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Ron Deutsch to Step Down as FPI’s Executive Director

Several weeks ago, Ron Deutsch informed the Fiscal Policy Institute’s (FPI) Board of Directors that he planned to step down as Executive Director on December 15, 2020.  Mike Burgess, Chair of FPI’s Board of Directors, stated that “I have known and worked with Ron for over two decades, a time during which he has become such an effective and influential advocate for social and economic justice in various roles.  Over the past six years, he has brought his passion and commitment to the Fiscal Policy [...]

2020-12-30T09:49:53-05:00November 11th, 2020|Press releases|

NYC Labor Market Took a Hard, Sustained Hit from the Pandemic

New York City Residents were hit harder and longer by the pandemic than those in the rest of the state. While both the city and the state have shown job gains since May 2020, the rebound has been modest. The road to recovery is long. Looking at the Employment to Population ratio (EPOP), we can see both are doing worse than during the Great Recession when the New York state EPOP never dropped below 57.7 percent and averaged 59.3 percent over the whole period. The [...]

2020-12-30T09:50:13-05:00November 10th, 2020|Blog, Economic Outlook|

October Media

FPI is your go-to resource for messaging on the issues affecting New Yorkers across the state.  nation.lk (content portal) 10/24 opinion piece links to 2016 joint FPI & Center for American Progress report "Refugee Integration in the United States"  https://www.nation.lk/online/opinion-refugees-like-my-ancestors-are-part-of-what-made-america-great-17012.html Gotham Gazette 10/20 FPI's chief economist Jonas Shaende quoted on NYC COVID expenses in "New York City COVID Spending Tops $4 Billion, Virtually All Covered by Federal Funds" https://www.gothamgazette.com/city/9835-new-york-city-four-billion-dollars-covid-spending-federal-funds The City 10/14 FPI May report cited in "Calls to Tax the Rich Abound. But What Exactly [...]

2020-10-27T13:16:18-04:00October 27th, 2020|FPI in the News|

The HEROES Act Should Include Undocumented Taxpayers

Across the United States, undocumented immigrants and their families are still experiencing eviction, food insecurity, hunger, and financial difficulties due to COVID-19. Federal relief has continuously excluded this population of immigrants from income replacement assistance, stimulus payments, and unemployment insurance, which has exacerbated the adverse economic effects on undocumented families. Earlier this year, the federal government passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial relief to families who were impacted by COVID-19. Sadly, undocumented immigrants and their families were [...]

2020-12-30T09:52:40-05:00October 26th, 2020|Blog, New York State|

New York Helps Pave the Way: NY’s Immigrant Inclusive Policies

In localities and states across the U.S., advocates and legislators have been working together to invest in the collective health and well-being of immigrants. This year’s Policy wins  have been significant as advocates, and legislators continued to fight back against federal attacks on immigrants, and COVID-19 exposed the already persistent racial disparities.   A recent report from the National Immigration Law Center that outlines policy victories in the United States highlighted New York’s commitment to immigrants. Despite the lack of federal leadership in response to [...]

2020-12-30T09:51:08-05:00October 26th, 2020|Blog, New York State|

Medicaid Cuts Would Put 554,000 Essential Workers in New York at Risk

October 14, 2020 Many of New York’s “essential workers,” people working in jobs deemed necessary throughout the COVID pandemic, rely on Medicaid for their own health care. They risk severe hardship if federal policymakers fail to provide appropriate increases in Medicaid funding or weaken protections for program enrollees, according to a new analysis from the Center on Budget and Policy Priorities. In New York State over half a million, 554,000, essential workers rely on Medicaid. The economic fallout from the COVID-19 pandemic led to a [...]

Pandemic Economics Demand A Diverse Response

October 14, 2020 In light of New Jersey's adoption of a millionaires tax to help fill a statewide revenue hole caused by the coronavirus, many asked what about New York? Like New Jersey, New York was hard hit by the pandemic, and its economy continues to suffer. Like New Jersey, New York has historic fiscal problems with a budget shortage of $14.5 billion this year, and in the tens of billions of dollars over the next several years. Like New Jersey, we continue to wait on the federal government [...]

Congress Must Agree on COVID Relief Package in the Next Week

The coronavirus pandemic has hurt us all. It has harmed our physical and mental health and economic well-being. As of September 24, 2020, COVID-19 has sickened over 7.2 million Americans and killed more than 207,000. The pandemic has harmed our economy, causing large-scale business shutdowns, which were ordered to protect public health. Tens of millions of Americans lost their jobs and incomes because of the pandemic, resulting in record-high unemployment rates and a rising need for services in New York State and beyond. Initially, job [...]

2020-12-30T09:54:58-05:00September 28th, 2020|Blog, Employment, Unemployment & Job Quality|

September Media

FPI continues to drive discussion statewide on our state budget, pandemic recovery, and inequality. Daily News 9/29 FPI data on tax payments from undocumented workers cited in the opinion piece "Donald Trump’s tax bill, and mine: A DACA recipient reflects on who pays what in America" https://www.nydailynews.com/opinion/ny-oped-donald-trumps-tax-bill-and-mine-20200929-45scfgf6mravje3pnmjew6vqny-story.html   WRVO 9/28 FPI's Ron Deutsch quoted urging wealth taxes in "As NY budget crisis looms, Democrats seek alternatives" https://www.wrvo.org/post/ny-budget-crisis-looms-democrats-seek-alternatives   OneNewsPage.com 9/25 News site carried the Gothamist article quoting FPI's chief economist Jonas Shaende "Will Rich New Yorkers [...]

2020-09-22T10:20:45-04:00September 22nd, 2020|FPI in the News|

New Poll Shows Overwhelming Majority of New Yorkers Support More Equitable Taxation to Raise State Revenue

September 1, 2020 Nine in Ten New Yorkers Support Increased Taxes on Incomes of $1 million and Above; Overwhelming Majority Oppose Cuts to Social Services to Address Budget Gap New York - As New York State faces a dire budget crisis due to the COVID-19 pandemic, new polling conducted by a coalition of unions shows an overwhelming majority of New Yorkers continue to support increased taxes on the wealthy to close the deficit, rather than drastic cuts to education, healthcare and transportation and other social [...]

2020-12-30T09:55:19-05:00September 1st, 2020|FPI in the News|

Robust Rental Assistance Needed to Protect Tenants

August 2020 Download the full brief Governor Cuomo has extended the state’s limited eviction moratorium until September 4, 2020 but the application window for the state’s $100 million COVID Rent Relief program closed on August 6, 2020. Many of New York State’s renters require assistance above and beyond the programs and protections currently in place. The COVID Rent Relief program has limitations. It will only provide up to four months of rental assistance for those earning below 80 percent of the area median income (AMI [...]

2020-12-30T09:55:55-05:00August 26th, 2020|Blog, Housing, Reports, briefs and presentations|

Buffalo Economist Fred Floss: “We are in an Impossible Situation”

August 19, 2020. Professor Fred Floss, a Senior Fellow at the Fiscal Policy Institute, Chair of the Department of Economics and Finance at Buffalo State and a member of Buffalo’s Fiscal Control Board, discussed Buffalo's fiscal situation with Capital Tonight host Susan Arbetter. "According to a new study published in the September edition of the National Tax Journal, cities in upstate New York, Buffalo, Rochester and Syracuse, are the most financially distressed cities in the nation. One reason why, according to Floss, is that all three rely [...]

2020-12-30T09:57:57-05:00August 19th, 2020|FPI in the News|

NY Pied-À-Terre Tax Bill Amended To Address Co-Op Issues

August 19, 2020. Spectrum News With New York continuing to face a staggering revenue shortfall, an updated pied-à-terre tax proposal sponsored by Assemblymember Deborah Glick and Senator Brad Hoylman is receiving renewed interest. "Jonas Shaende, chief economist at the Fiscal Policy Institute, told Law360 that one of the reasonable criticisms made last year about the bill was its application of market valuation to co-ops that never had that valuation method applied to them before. He said the changes account for that by applying the valuation [...]

2020-12-30T09:57:38-05:00August 19th, 2020|FPI in the News|

Group Calls For NY ‘Mark-To-Market’ Tax To Raise $5.5B

August 12, 2020 "New York should pass a so-called mark-to-market tax bill to raise $5.5 billion annually and help the state during its post-pandemic recovery, a report by the left-leaning Fiscal Policy Institute said Wednesday. The labor-backed policy group endorsed the mark-to-market tax proposal as New York faces a $14 billion revenue shortfall and estimated 20% cuts to education, hospitals, local governments and nonprofits. While state Democratic lawmakers and Gov. Andrew Cuomo, a Democrat, have been pushing federal lawmakers to provide aid to states to help fill [...]

2020-12-30T09:58:16-05:00August 12th, 2020|FPI in the News|

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 cuts—to education, health care, and other crucial services—and add new programs to combat the coronavirus recession by helping those most in need. The Fiscal Policy Institute’s latest report explains how a new type of tax [...]

2021-01-11T18:48:33-05:00August 12th, 2020|Must Read, NYS Tax Policy, Press releases|
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