Recent Work
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
The American Rescue Plan Act of 2021: New York’s Share of the Coronavirus Fiscal Recovery Fund
Read the full report: The American Rescue Plan Act of 2021: New York’s Share of the Coronavirus Fiscal Recovery Fund The American Rescue Plan Act of 2021 includes $350 billion in aid for states, territories, and tribal governments for the purpose of alleviating the fiscal stress caused by the COVID-19 pandemic. Of the $350 billion, $195.3 billion is allocated for payments to states, $130.2 billion for city and county governments, $20 billion for tribal governments, and $4.5 billion for territories. These coronavirus fiscal recovery funds can be used to offset the pandemic’s impact on revenue, pay public sector employees, fund [...]
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 offset the pandemic’s impact on their revenues, pay government employees, fund capital projects, and to [...]
The American Rescue Plan and the New York State Budget
The year 2021 began under the threat of a historic state budget shortfall of $15 billion. Compounded by municipal and county-level fiscal stress, it imperiled funding for public services and employees – a terrible risk as New York continued to experience the social, emotional, and fiscal impacts from the pandemic. The governor’s proposed Executive Budget featured an “if-then” scenario that reflected a minimum level of $6 billion in federal aid and assumed a remaining $9 billion difference. At the same time, the governor requested $15 billion from Congress in hopes that the entire amount would arrive and eliminate the need [...]
EITC Helps Workers, Their Families, Communities and the State
Our 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 provides 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 minimum wage. Then COVID struck and the pandemic’s economic impact disproportionately affected our state’s part-time, hourly, and [...]
FPI Testifies Before Join Legislative Budget Hearing on Taxes
FOR IMMEDIATE RELEASE: February 23, 2020 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Fiscal Policy Institute's Recommendations for the FY 2022 State Budget (Albany, NY) Today the Fiscal Policy Institute (FPI) testified before the Joint Legislative Budget Hearing on taxes. FPI urges a bold vision in crafting the FY 2022 state budget, recommending progressive tax policies so that all New Yorkers can grow, prosper, and build a foundation for the future. The video replaces FPI's annual in-person budget presentation. Statement from Dr. Jonas Shaende, Chief Economist: “This year’s state budget is truly historic. New Yorkers are relying on a plan that will keep [...]
Public Testimony Integral to New York’s State Budget Process
New York State’s constitution requires the governor to provide the state legislature with a yearly balanced budget proposal including the necessary appropriation bills and legislation. The Legislature reviews the proposed executive budget and offers changes or modifications and enacts the state budget. As is customary, Governor Cuomo presented his proposed Executive Budget for FY 21-22 in January which was followed by a review and analysis from both legislative houses. The Assembly Ways and Means Committee’s Review and Analysis of the 2021-22 Executive Budget is known as the “Yellow Book” due to the color of its cover and the Senate Finance [...]
Economists Push Biden On Path To Citizenship For Undocumented Immigrants
FPI joined a letter from economists urging the Biden Administration this week to include a pathway to citizenship for undocumented immigrants in upcoming legislation. The letter highlighted that such an action would benefit the nation as a whole. Benefits would include increasing jobs, productivity, boost wages, and tax revenue. The group of more than 60 signatories includes former Obama economic advisor Jason Furman, Eileen Appelbaum of the Center for Economic and Policy Research and David Kallick of the Fiscal Policy Institute. Read the Forbes article "Economists Push Biden On Path To Citizenship For Undocumented Immigrants"
Biden Urged to Legalize Migrants as Part of Infrastructure Plan
FPI joined with more than 60 economists to urge President Biden to create a path to citizenship for undocumented immigrants in the soon-to-be-released economic and infrastructure plan. Such an action not only benefits those individuals, but the experts also explain that this action would help our economy by raising wages and increasing productivity and tax revenue. The economists, including President Barack Obama’s former top economist Jason Furman and David Kallick of the Fiscal Policy Institute, which champions liberal economic policies, made the proposal in a letter to the White House obtained by Bloomberg News. Legalizing millions of immigrants -- especially [...]
Memo of Support: S.537/A.2533 (EITC)
Memorandum of Support S.537 (Kaplan)/A.2533 (Fahy) Provides for the advance payment of the earned income tax credit to qualifying employees. The Fiscal Policy Institute (FPI) supports S.537/A.2533 to help create a more equitable state tax code for working New Yorkers. This legislation would update New York State’s Earned Income Tax Credit (EITC) to address the economic needs of New York State residents who work part-time and who work for low wages. Throughout the state, hundreds of thousands of workers are unable to claim the credit due to exclusions in the federal EITC program. Thus, currently, our state’s childless workers under 25 and our undocumented workers are prevented [...]
New York’s Pandemic State Budget: Recovering and Reimagining
FOR IMMEDIATE RELEASE: February 10, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 ***VIDEO link below*** New York's Pandemic State Budget: Recovering and Reimagining Fiscal Policy Institute's Recommendations for the FY 2022 State Budget Read the report: "Economic and Fiscal Outlook 2022: New York Recovering and Reimagining" Watch the video: Fiscal Policy Institute's Annual State Budget Presentation 2021 (Albany, NY) Today the Fiscal Policy Institute (FPI) released a 30-minute video highlighting its report "New York State's Pandemic Budget: Recovering and Reimagining." FPI urges a bold vision in crafting the FY 2022 state budget, recommending progressive tax policies so that all New Yorkers can grow, prosper, [...]
FPI’s Presentation on the Proposed Executive Budget for FY 2022
Our state budget helps determine the future for every New Yorker. This year the stakes are exceptionally high as the pandemic continues to imperil our health and financial well-being. Will the choices we make crafting our state budget reduce inequality, or will the gap continue to widen? FPI took a look at the proposed New York State Executive Budget and offered actions to create a more just New York for all. Watch our 30-minute video overview and read the report "Economic and Fiscal Outlook 2022: New York Recovering and Reimagining" to learn more. Introduction Financial Plan Local Governments [...]
Military Coup in Myanmar Reverberates in California, Indiana, New York, and Texas
Over the past week, the military in Myanmar, the country also known as Burma, overthrew the democratically elected government and arrested the top civilian leaders. The United States state department condemned the action, saying “the military must reverse these actions immediately.” These actions are being watched closely, and in horror, by Burmese communities in the United States. To help understand what this means in Burmese communities in the United States, the Fiscal Policy Institute presents here data showing that of the 151,000 people born in Burma in the United States, roughly half live in just four states: California, Indiana, New [...]
Concrete Gains for New Yorkers from Federal Immigration Proposal
FOR IMMEDIATE RELEASE: February 1, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Concrete Gains for New Yorkers from Federal Immigration Proposal Removing Barriers for Immigrants Boosts Earnings and Tax Revenue Read the report: A Pathway to Citizenship: Doing Well by Doing Good (Albany, NY) A new report by the Fiscal Policy Institute (FPI) in conjunction with the Institute for Taxation and Economic Policy (ITEP) shows the ways New York State would benefit if undocumented immigrants could gain work authorization and apply for citizenship, as is being proposed by the Biden-Harris Administration. Statement from David Dyssegaard Kallick, Director of Immigration Research Initiative: “A [...]
Arts Central to New York City’s Recovery
As New York looks to restart our economic engine after the pandemic, the arts and culture play a critical role, especially in New York City. Governor Cuomo underscored that connection in his State of the State and New York State budget announcements. "Cities are by definition centers of energy, entertainment, theatre, and cuisine. Without that activity and attraction, cities lose much of their appeal. What is a city without social, cultural, and creative synergies? New York City is not New York without Broadway.” The coronavirus hit the city hard, causing a massive health crisis and an economic disruption due to [...]