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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 [...]

2021-01-19T12:19:29-05:00January 19th, 2021|Blog, Economic Trends & Policy, NYS Budget|

Taxes Fuel Our Communities

You may have heard that New York is a high-tax state. But what does that really mean?  If we concentrate solely on personal income taxes in 2019, California tops the list with the highest top rate of 13.3 percent. New York is in the ninth spot with its 8.82 percent.   California 13.3% Hawaii 11% Oregon 9.9% Minnesota 9.85% Iowa 8.98% New Jersey 8.97% Vermont 8.95% District of Columbia 8.95% New York 8.82% Wisconsin 7.65%   With New York needing to raise revenue to fund [...]

2021-01-11T17:54:07-05:00January 11th, 2021|Blog, NYS Tax Policy|

Congressional COVID Relief Bill Offers New York Workers Some Needed Relief

New York State’s unemployed workers will soon see some relief from the federal coronavirus relief bill passed on December 21, 2020. The bill provides $300/week in enhanced unemployment compensation (FPUC). It also extends Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) for another 11 weeks. In October and November of 2020, New York’s unemployment rate stood at 10 percent, with over 800,000 unemployed workers. Those most impacted by layoffs include Black workers (at 14 percent unemployed) and Hispanic and Asian workers (both at 13 percent unemployed). Comparatively, 7 percent of white workers were unemployed.  Immigrant workers, a category defined as [...]

2020-12-30T14:27:01-05:00December 30th, 2020|Blog, Employment, Unemployment & Job Quality|

Tax Revenue Keeps States Running

December 21, 2020  New York, like every other state, relies on tax revenue to provide stable funding for necessary public services. The COVID-19 pandemic has been particularly damaging to the state and local governments’ budgets as the necessary mitigation measures have continued to curtail business activity, which in turn depressed tax revenues. Among the most impacted industries are hospitality, tourism, and leisure sectors that employ many low-skilled and immigrant workers. When many workers permanently lose their jobs, the impact is both local and statewide. As [...]

2020-12-30T09:41:16-05:00December 20th, 2020|Blog, NYS Tax Policy|

New York State’s Tenants Need Immediate Relief

December 2020 The coronavirus pandemic has exacerbated New York State’s affordable housing crisis. This year’s high unemployment has most affected our state’s minimum wage workers and gig economy workers and has intersected with our state’s lack of safe, decent, and affordable rentals, particularly for those earning at or below 50 percent of the Area Median Income (AMI). To help struggling renters and protect public health, the state legislature passed the Emergency Rent Relief Act of 2020 on May 28, 2020. It created a $100 million [...]

2020-12-30T09:43:49-05:00December 18th, 2020|Blog, Housing|

Cuts to Employment in the State and Local Public Sector will Disproportionately Harm Women and Black Workers

Governor Cuomo supports reducing state spending citing revenue shortfalls that have been fueled by the economic recession that followed the COVID-19 pandemic. Reduced or eliminated state funding could mean losing public sector jobs that employ workers in communities statewide. This loss would disproportionately impact women and Black workers who constitute the majority of public sector employees.  Historically, the public sector has been an essential employer for women and people of color. Public sector employment has offered a stable path into the middle class with regulated [...]

2020-12-30T09:45:19-05:00December 18th, 2020|Blog, Employment, Unemployment & Job Quality|

Recognizing the 10th Anniversary of the Domestic Workers’ Bill of Rights

The Fiscal Policy Institute was honored to be part of the New York State chapter of the National Domestic Workers Alliance celebration of the 10th  anniversary of the Domestic Workers’ Bill of Rights on Saturday, December 12th. The NDWA is a strong voice for domestic workers across the nation. Domestic workers provide essential work within our homes, from child-care and caregiving to keeping our homes clean and functioning. The majority of domestic workers are women, mostly immigrants, and women of color. FPI will be releasing [...]

2020-12-30T09:45:54-05:00December 12th, 2020|Blog, Education|

What Does the December Jobs Report Mean for New Yorkers?

December 2020 The monthly jobs report from the U.S. Department of Labor reflected the pandemic’s continuing impact on the job market and the economy. A triad of trouble included job growth remaining slow for the fifth straight month, employers scaling back hiring last month, and a stubbornly high unemployment rate of 6.7%, a slight decrease from October’s 6.9%  New York State’s latest jobs report won’t be released until the end of December but looking at the last available report from October makes evident our state follows the same trend [...]

2020-12-30T09:46:32-05:00December 4th, 2020|Blog, Employment, Unemployment & Job Quality|

The Universal Burden of Education Debt

 December 2020 What do you call a loan that has been obtained for the purpose of financing the costs of higher education? A student loan. However, considering the fastest-growing age segment of student loan borrowers are over the age of 60 and are not students themselves, perhaps there is a more suitable term that can be used–education debt. Much like auto debt, mortgages, and credit debt, the term education debt places emphasis on what the debt has been used for, instead of who has used [...]

2020-12-30T09:47:04-05:00December 3rd, 2020|Blog, Education|

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|

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 [...]

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|

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|
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