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So far Anthony Troia has created 1204 blog entries.

Why older Americans with student loan debt might want to consider refinancing

When people hear the phrase "student loan debt" they usually picture young adults. However, more and more older adults carry education debt which can impact their financial security and inter in their ability to afford essential expenses, especially in their retirement years. Unfortunately, according to recent research from the Fiscal Policy Institute, Americans aged 60 and up are actually the fastest-growing age segment within the student loan market. In just the past decade, the number of adults 60 and over who have student loan debt [...]

Anthony Troia2021-03-29T14:22:30-04:00March 29th, 2021|FPI in the News|

Fact Sheet: State and Local Government Employment Has Been Largely Static, With Full-Time Jobs Eliminated in Critical Areas

Full-time employment in state government jobs grew by only 1 percent in New York State between 2010-2019, with the number of those employed totaling just over 236,000 in 2019. At the same time, local government employment decreased by 1 percent for full-time employees, with the number of employed totaling just over 882,000 in 2019, down from 893,000 in 2010. Full-time employment losses in both state and local government affected the areas of health, natural resources, and social and public welfare. Employment losses in health and [...]

Anthony Troia2021-03-26T16:27:58-04:00March 26th, 2021|Creating Vibrant Communities, Economic Outlook, Economic Trends & Policy, Employment, Unemployment & Job Quality, Good Governance, Local Tax & Budget Policy, NYS Budget, NYS Tax Policy, Policy & Research|

Fact Sheet: Black New York Workers Have Been Hit Hard By The Pandemic Statewide

THE COVID‐19 PANDEMIC HAD AN UNPRECEDENTED EFFECT ON THE JOBS AND INCOMES OF NEW YORK STATE RESIDENTS, in addition to upending social norms and taking the lives of thousands. However, the pandemic’s burden was not evenly distributed across our population. The Fiscal Policy Institute found that Black workers statewide, who already had a higher rate of unemployment prior to the pandemic, experienced even greater losses. Our first analysis compares the employment measures among Black New Yorkers between March to November 2019 and March to November [...]

Anthony Troia2021-03-25T12:15:18-04:00March 24th, 2021|Economic Outlook, Economic Trends & Policy, Employment, Unemployment & Job Quality, Fact Sheets, Good Governance, NYS Budget|

A Tax Credit for Working New Yorkers

New York State’s Earned Income Tax Credit (EITC) is a proven program that working New Yorkers rely on. The EITC keeps more money in workers’ pockets, providing more money to spend on essentials like food, transportation, housing, education, and child care. The EITC is a critical support for workers, their families, local economies, and the state! Before the pandemic, far too many New Yorkers were unable to earn a stable and sufficient income through work. This problem persisted despite the recent increases to our state’s [...]

Anthony Troia2021-03-23T16:46:34-04:00March 23rd, 2021|Blog, Economic Trends & Policy, NYS Budget, NYS Tax Policy, Tax & Budget|

A Tax Credit for New York State Workers Hit Hardest by the Pandemic

Our state's Earned Income Tax Credit (EITC) keeps more money in workers' pockets, helping them pay for essentials including food, transportation, housing, education, and child care, as well as cover extra expenses. This tax credit is even more beneficial during the pandemic. The New York State Assembly's FY 2022 One-House Budget Proposal includes expanding the state EITC from 30 percent of the federal credit to 40 percent of the federal credit beginning in Tax Year 2021. That is a 25 percent increase to the maximum [...]

Anthony Troia2021-03-23T16:43:56-04:00March 23rd, 2021|Blog, NYS Budget, NYS Tax Policy, Tax & Budget|

Fact Sheet: New York State Must Invest in Not‐for‐Profit Service Providers to Protect New Yorkers and Advance Equity

The Social Assistance subsector includes workers who provide direct and vital social assistance services to consumers, including vulnerable and at-risk populations and communities. It consists of the following industry groups: Individual and Family Services; Community Food and Housing, and Emergency and Other Relief Services; Vocational Rehabilitation Services; Child Day Care Services.1 In 2019, there were nearly 380,000 people estimated to be employed in New York’s social assistance subsector by not-for-profit, government, and private employers, 133,000 of whom (35 percent) were employed by not-for-profits. In New York State, total not-for-profit employment is largest in the Individual and Family Services and Child and Day [...]

Anthony Troia2021-03-24T12:47:48-04:00March 22nd, 2021|Employment, Unemployment & Job Quality, Fact Sheets, Good Governance, NYS Budget, Tax & Budget|

One Year Into Pandemic, Thousands Of Excluded Workers Are Still Begging For Relief

This Gothamist article tells the personal story of an excluded worker and the on-going efforts in New York State to create an excluded worker fund. Excluded workers are those who have lost work due to COVID, but have been excluded from any federal or state relief (federal stimulus or state unemployment due to their immigration status or recent incarceration. “The need is urgent,” said David Dyssegaard Kallick, director of the Fiscal Policy Institute’s Immigration Research Initiative. “Unemployment insurance has been a lifesaver to so many [...]

Anthony Troia2021-03-22T15:24:56-04:00March 19th, 2021|FPI in the News, Immigration, New York State, NYS Budget, NYS Tax Policy, Tax & Budget|

Report Finds $3.5B Needed for Aiding Excluded Workers During Pandemic

The New York State Senate and Assembly both supported creating a fund to provide unemployment insurance to workers who are excluded from the unemployment insurance system, primarily undocumented immigrants and people leaving incarceration during the Covid-19 pandemic. Both houses included $2.1 billion in their one-house budgets. The report shows that while $2.1 billion is an impressive signal from the legislature, $3.5 billion is the amount that is needed to match the minimum benefits other workers receive and to continue that aid through the end of [...]

Anthony Troia2021-03-18T14:15:04-04:00March 18th, 2021|FPI in the News, Immigration, New York State, NYS Budget, NYS Tax Policy, Tax & Budget|

Unemployment Compensation for Excluded Workers: $3.5 Billion Needed for 2020 and 2021

The New York State Assembly and Senate both support creating a fund to provide unemployment insurance to workers who are excluded from the unemployment insurance system, primarily undocumented immigrants and people leaving incarceration during the Covid-19 pandemic. Both houses included $2.1 billion in their one-house budgets this week, the starting points for negotiating the final state budget. This is an impressive commitment to a critical priority. However, matching the minimum level of benefits that other unemployed New Yorkers receive and extending the aid through the [...]

Anthony Troia2021-03-18T07:28:43-04:00March 17th, 2021|Blog, Immigration, New York State, NYS Budget, NYS Tax Policy, Reports, Briefs and Presentations, Tax & Budget|

“Legislature Supports $2.1 Billion in Aid to Excluded Workers; Report Shows $3.5 is Needed”

FOR IMMEDIATE RELEASE: March 18, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 “Legislature Supports $2.1 Billion in Aid to Excluded Workers; Report Shows $3.5 is Needed” Read FPI’s report: Unemployment Compensation for Excluded Workers: $3.5 Billion Needed for 2020 and 2021 (Albany, NY) – New York State may be on the brink of providing unemployment benefits to workers who are currently excluded from the state’s unemployment insurance fund. The New York State Assembly and Senate both support a fund of $2.1 billion to extend benefits to undocumented [...]

Anthony Troia2021-03-31T14:53:18-04:00March 17th, 2021|Immigration, New York State, NYS Budget, NYS Tax Policy, Press Releases, Tax & Budget|

New York lawmakers propose tax increases on the rich. Here’s who would pay up

The New York State Senate passed its one-house budget resolution which includes raising the tax rate on those earning over $1 million a year. The Assembly supports this tax reform as well. "Big challenges require bold action and demand a combination of transformative vision and concrete commonsense response," said Jonas Shaende, chief economist for the Fiscal Policy Institute, a liberal think tank in Albany. "The Legislature’s proposals show their willingness to consider a broad array of measures to ensure New Yorkers’ health and well-being." Read the Gannett article which appears in lohud and [...]

Anthony Troia2021-03-17T10:00:21-04:00March 16th, 2021|Economic Trends & Policy, FPI in the News, NYS Budget, NYS Tax Policy, Tax & Budget|

Tax opponents wonder if they still can count on Gov. Cuomo

As the state budget process progresses, both houses released their one-house budget proposals which include increased taxes for top earners and corporations. Critics contend these tax reforms are not needed due to federal aid. Advocates point out the long-standing need for tax reform to set the state on the right course. "The legislature’s proposals recognize the need for support to ensure all New Yorkers can live, work, access health care, and receive a sound education," the labor-backed Fiscal Policy Institute said. Read the Newsday article [...]

Anthony Troia2021-03-23T12:29:57-04:00March 16th, 2021|Economic Trends & Policy, FPI in the News, NYS Budget, NYS Tax Policy, Tax & Budget|

Fiscal Policy Institute on One-House Budgets

FOR IMMEDIATE RELEASE: March 15, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Fiscal Policy Institute on One-House Budgets (Albany, NY) Today the New York State Senate and Assembly released their one-house budgets as New York continues grappling with the pandemic. With the annual April 1st deadline fast approaching, today’s action sustains hope for a responsive budget process that can meet all New Yorkers' needs. The Legislature’s proposals recognize the need for support to ensure all New Yorkers can live, work, access health care, and receive a sound education. With the pandemic underscoring how [...]

Anthony Troia2021-03-31T14:53:11-04:00March 15th, 2021|Good Governance, NYS Budget, NYS Tax Policy, Press Releases, Statements & Public Testimony , Tax & Budget|

Denied COVID economic relief, N.Y.-based immigrant and excluded workers plan hunger strike

Advocacy organizations and state lawmakers have been urging the state to create a COVID relief fund for undocumented workers and others excluded from federal aid since the start of the pandemic. The majority, 54%, of New York City residents working in essential jobs during the pandemic are immigrants, according to the Fiscal Policy Institute. Read: "Denied COVID economic relief, N.Y.-based immigrant and excluded workers plan hunger strike" NY Daily News

Anthony Troia2021-03-16T15:30:06-04:00March 15th, 2021|FPI in the News, Immigration, New York State, NYS Budget, Tax & Budget|

Coronavirus Fiscal Recovery Funds: New York State Allocation by County, 2021

The American Rescue Plan Act of 2021 includes $350 billion in aid for the purpose of alleviating the fiscal stress caused by the COVID-19 pandemic. New York is estimated to receive a total of $24 billion, or seven percent of these coronavirus relief funds. Specifically, $13 billion has been allocated for the New York State government, $6 billion for metropolitan cities, $4 billion for counties, $825 million for local governments, and $350 million for state capital projects. These Coronavirus recovery funds can be used to [...]

Anthony Troia2021-03-12T21:30:50-05:00March 12th, 2021|Blog, Federal Taxes & Budget Policy, Tax & Budget|

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