Immigrants are the powerhouse that makes New York City work
October 5, 2011. An editorial from the New York Daily News. File this under Things You Probably Could Have Guessed After Just Looking Around: A new study confirms that immigrants are the very economic backbone of New York.
Opinion: Immigrants Are the Lifeblood of New York City – Nearly half of New York City’s small businesses are owned by immigrants
October 5, 2011. Gabe Pressman, NBC News. Read the article.
A Balanced Approach to Closing State Deficits
February 25, 2011. Most states are heading into their fourth year of fiscal crisis facing severe revenue shortfalls that require closing huge deficits. The choices states make about how to close those deficits have serious implications both in the short and long term. States that rely solely or primarily on widespread budget cuts to close deficits are harming residents and businesses that need immediate assistance; they also are reducing demand in the economy and impeding their state's economic recovery. This paper by Iris J. Lav and Dylan Grundman of the Center on Budget and Policy Priorities discusses the challenges.
“Fiscal analyst calls NY deficit exaggerated”
January 22, 2011. Newsday's Michael Amon blogs about some telling comments from Frank Mauro with respect to one estimate of the growth in state spending. Spin Cycle: Fiscal analyst calls NY deficit exaggerated.
Proposal to Recapture High End Federal Tax Cut Windfall
December 20, 2010. In the wake of the historic agreement between the President and the Republican Congressional leadership to extend the Bush tax cuts for the wealthiest, the New York City Council's Progressive Caucus has developed an interesting proposal. The proposal calls for the state of New York to impose a temporary income tax surcharge to recapture for New York the "windfall" high income New York filers will be receiving. Related: an op-ed by Brad Lander, co-chair of the Progressive Caucus.
Stiglitz calls for a second stimulus at FPI event
October 8, 2010. FPI presented its Frances Perkins Working People's award to Nobel economist Joseph Stiglitz at an event in Manhattan on October 7. In his acceptance remarks, Stiglitz made a strong case for additional economic stimulus to put the country firmly on the road to recovery. A good summary of Stiglitz's remarks by Kathy Brady of the New York City Employment and Training Coalition is available in the October 8 edition of NYCETC's newsletter, the NYC Workforce Weekly. Article >>
New York Not-for-Profits Fighting Governor’s Vetoes
July 27, 2010. Governor Paterson's vetoes eliminated funds for the 2010 fiscal year and previous years - funds that had been promised by legislators to not-for-profits for a variety of critical services and needed programs in local communities throughout the state. Albany press conference: FPI's Frank Mauro and Ron Deutsch of New Yorkers for Fiscal Fairness were among the speakers. Sponsored by the New York AIDS Coalition, New York State Catholic Conference, New York State Community Action Association, New York Library Association, New York State Council for Community Behavioral Healthcare, New York State Coalition Against Domestic Violence, the Fiscal Policy [...]
Groups Call Upon Schumer and Gillibrand to Restore Medicaid and COBRA Health Insurance Funding
June 8, 2010. This press release from coalition partners highlights FPI's analysis of the impact on New York State and New York City of a 6-month extension of the American Recovery and Reinvestment Act's increased share of state Medicaid costs. The groups also call for extension of ARRA's assistance with COBRA premiums.
Property Tax Relief: How Does a Circuit Breaker Work?
April 30, 2010. The New York State Property Tax Reform Coalition explains in plain language. Also see their circuit breaker calculator based on the Galef/Little reform bill. The April 2010 issue of Land Lines, the Lincoln Institute of Land Policy's quarterly magazine, has a six-page article devoted to circuit breakers and how they work to relieve property tax burden, including a full page sidebar on "New York's Effort to Provide Targeted Tax Relief." Read the article - Property Tax Relief: The Case for Circuit Breakers >>
Immigrants in Work Force: Study Belies Image
April 15, 2010. Today's New York Times featured an article by Julia Preston based on FPI data together with related materials - data and interviews. Immigrants in Work Force: Study Belies Image. By Julia Preston. Immigrants and Growth graphic. After Their Arrival video and photo interviews with four men and women from across the world and the economic spectrum.
Establishing a Fair, Adequate and Economically Sensible State-Local Tax System
April 7, 2010. This policy brief from FPI reviews specific revenue raising options that would enable New York to close its budget gap while making the overall tax system fairer and minimizing damage to the economy. The brief was released as the Better Choice Budget Campaign announced a statewide TV ad campaign to raise awareness of opportunities to raise revenues in ways that minimize damage to the state's fragile economy - including closing corporate tax loopholes and asking Wall Street to help bail out Main Street. BCBC press release; watch the ad.
Raise Taxes to Balance the Budget
March 12, 2010. FPI Executive Director Frank Mauro discusses Lieutenant Governor Richard Ravitch's fiscal reform plan on Capitol Tonight, explaining why tax increases should be part of a balanced approach to closing New York State's projected budget gap. Video >>
The Ravitch Plan
March 11, 2010. James Parrott, FPI's Deputy Director and Chief Economist, was a guest on the Brian Lehrer Show today. He discussed Lieutenant Governor Richard Ravitch's plan to reform the New York State budget process and to borrow money to help solve New York State's fiscal problems. Listen >>
Revenue-raising and cost-saving options
February 22, 2010. The Fiscal Policy Institute worked with the other members of the Better Choice Budget Campaign to develop a menu of revenue-raising and cost-saving options for consideration by the Governor and Legislature as they work to adopt a balanced budget for 2010-2011. The chart of options was distributed at a press conference today at which advocates urged the governor and legislature to make "better choices" to balance the state budget - calling for more federal aid, and for Wall Street to help Main Street. FPI, New Yorkers for Fiscal Fairness, and a diverse group of statewide organizations joined forces to explore alternatives [...]
Paterson’s “Budget of Necessity”
January 20, 2010. From New York Now's live coverage of the state budget release, a brief clip featuring Frank Mauro, the executive director of the Fiscal Policy Institute, and David Liebschutz, the director of strategic planning and analysis at the Center for Governmental Research. Watch >> [2:25]
Who Pays? Distributional Analysis of the Tax Systems in All 50 States
November 18, 2009. A new study from the Institute on Taxation and Economic Policy (ITEP), co-released by FPI, shows that middle-income families in New York pay a higher share of their income in state and local taxes (12.0 percent) than do the state's richest families (who pay only 9.4 percent of their income in state and local taxes). Data for New York, full report, 50 states.
Advocates Decry Mid-Year Budget Cuts in Governor’s Deficit Reduction Plan
November 5, 2009. FPI, New Yorkers for Fiscal Fairness, and a diverse group of statewide organizations joined forces to publicize the harmful impact of many of the governor's proposed cuts, and to urge the Legislature to look at less painful alternatives. Group press release >>
Property Tax Relief for New Yorkers
October 19, 2009. At a public forum hosted by Assemblyman Marcus Molinaro in Hopewell Junction, Frank Mauro of the Fiscal Policy Institute discussed the workings of New York State's current property tax system, and John Whiteley of the New York State Property Tax Reform Coalition discussed property tax relief and reform options for New York State. Watch the video >>
EPI updates Issue Guide on Minimum Wage
July 21, 2009. The Economic Policy Institute has released an updated Minimum Wage Issue Guide. Also see Key EPI publications and other minimum wage resources.
Federal Fiscal Relief Is Working as Intended: The Cases of New York and Virginia
May 26, 2009. A new study from the Center on Budget and Policy Priorities profiles the American Recovery and Reinvestment Act (ARRA) in New York and Virginia. The experience of these two states suggests that the state fiscal assistance in the economic recovery legislation is having its intended effect: enabling states to balance their budgets with fewer cuts in public services that would harm residents and further slow the economy. The study is part of a special series of reports, Economic Recovery Watch.
Omnibus Consortium Works to Advance Circuit Breaker and Promote Real Property Tax Reform
April 22, 2009. The Omnibus Consortium (www.omnibustaxsolution.org) joined today with Senator Liz Krueger in support of her reform bill S.4239, calling for action by end of session. Press release >>