Featured Research
Generating State Revenue Essential for Post-Pandemic Recovery
Billionaire Mark-to-Market Tax Can Raise Over $5.5 Billion To Help Keep New York State Running New York can and must do more to address its budget crisis than wait for federal relief. While the economy has taken a hit, the state can raise enough tax revenue to avoid catastrophic budget [...]
Legislators Unite for People-Centered Recovery with Statement of Principles
Over 100 New York State Senate and Assembly members, along with statewide unions, the Fiscal Policy Institute, and the Strong Economy for All Coalition, called for no state budget cuts without raising revenue. The coalition has released a signed statement of principles calling for a balanced state tax policy where [...]
The Fiscal Policy Institute’s Three-Point Plan for Re-Building New York
May 27, 2020. The Fiscal Policy Institute today warned state legislators and the governor that New York’s financial and social woes will only worsen if they attempt to return to an austerity budget model. The pandemic's public health crisis and subsequent economic downturn deepened an existing budget shortfall and with the deficit projected to be at least $13 billion, [...]
Local Government Reliance on Fines and Fees to Raise Revenues Hurts Residents and Communities
Across New York State, fines and associated fees are relied upon by local governments as a source of local revenue. Decreased aid from the state coupled with the 2-percent property tax cap, which was enacted in 2011 and restricts annual property tax increases to the lesser of 2-percent or the [...]
Refugee Resettlement Agencies Are Providing Essential Services During COVID-19
Now more than ever, refugee resettlement agencies are providing essential services to refugees and also to a number of other community members, to help protect everyone during the COVID-19 pandemic. Prior to the pandemic, the Fiscal Policy Institute showed how refugee resettlement agencies are anchor institutions in their communities, providing [...]
New York’s Unemployment System Depends on Continued Federal Assistance
May 11, 2020 Following the Great Recession, New York's Unemployment Insurance Trust Fund only achieved a positive fund balance for the first time in fiscal year 2016. On January 1, 2020, the balance stood at $2.65 billion, but the fund was nearing insolvency according to a report by the U.S. [...]