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FPI Briefing on the Federal Budget Reconciliation Bill

The OBBBA spending cuts are concentrated in Medicaid and food stamps (SNAP), with devastating effects for New Yorkers. The bill will cut federal funding to the New York State budget by approximately $10 billion annually and kick 1.5 million New Yorkers off their health insurance, more than doubling the statewide uninsured population. On top of the direct fiscal costs to New York State, the OBBBA will cut an additional $13 billion in funding to New York’s healthcare system.

Emily Eisner2025-07-15T21:20:21-04:00July 10th, 2025|Blog, Featured on Home, Policy & Research, State Budget, Tax & Budget|

FPI Research on Tax Migration cited on NBC, CNN, MSNBC

Zohran Mamdani’s recent victory in the New York City Democratic primary election has brought FPI’s past research on millionaire tax flight into the national spotlight.

Nathan Gusdorf2025-11-18T18:20:24-05:00July 7th, 2025|Blog, Featured on Home, FPI in the News|

New York Hospitals will Close under the “One Big Beautiful Bill Act”

70 of New York's 156 hospitals are at risk of closure from federal Medicaid cuts

Emily Eisner, Michael Kinnucan2025-07-02T12:06:52-04:00June 27th, 2025|Featured on Home, Healthcare|

New York Will Lose $15.4 Billion Per Year Under The “One Big Beautiful Bill Act”

The OBBBA spending cuts are concentrated in Medicaid and food stamps (SNAP), with devastating effects for New Yorkers. The bill will cost the New York State government $15.4 billion annually and kick 1.5 million New Yorkers off their health insurance, more than doubling the statewide uninsured population.

Nathan Gusdorf2025-06-05T14:57:05-04:00June 4th, 2025|Featured on Home, Policy & Research, State Budget, Statements|

Budget Breakdown: Fiscal Year 2026 Enacted Budget

The Enacted Budget, while it contains few significant new policy initiatives, allows state spending to recover some of the lost ground from a decade of austerity policies in the 2010s. The most important policy measure in the budget is a long overdue increase in unemployment insurance benefits that will better prepare the State economy for a possible recession (discussed in detail below). The bad news is that the Enacted Budget contains serious fiscal errors, including permanent tax cuts and one-time payments that will cost $3 billion in fiscal year 2026 alone.

Fiscal Policy Institute2025-06-05T14:46:55-04:00May 14th, 2025|Featured on Home, State Budget, Tax & Budget|

FPI’s Fiscal Year 2026 Enacted Budget Briefing

FPI presented a briefing on the New York State budget for fiscal year 2026.

Fiscal Policy Institute2025-05-14T00:57:42-04:00May 9th, 2025|Featured on Home, Healthcare, Housing, Policy & Research, State Budget, Tax & Budget, Tax Policy, Transit|

Has New York Already Entered Stagflation?

Stagflation is the deadly combination of low growth and high inflation. With the implementation of sweeping and high tariffs by the federal government, most economists and forecasters currently predict something resembling “stagflation” on the Unites States’ economic horizon. But New York may have already entered a period of stagflation: New York’s economy has recovered the jobs lost during the Covid-19 pandemic, but lags the economic growth seen in the rest of the country.

Emily Eisner2025-05-05T22:52:51-04:00May 6th, 2025|Economic Trends & Policy, Featured on Home|

What to Look for in New York City’s Executive Budget

The Adopted Budget should anticipate realistic revenue and spending on core services while maintaining a flexible reserve to prepare for fiscal uncertainty. The budget response put forward by the City Council takes important steps toward these goals.

Andrew Perry2025-04-29T17:09:36-04:00April 24th, 2025|City Budget, Featured on Home|

State Ends Year with $6 Billion over Projections

New York State’s fiscal year 2025 ended on March 31 with good news for the State’s coffers: Total receipts for the year came in $6.0 billion higher than forecast as of January 2025, and a full $12.3 billion higher than forecast at the beginning of the fiscal year in May 2024. As we enter the final stage of budget negotiations, this additional revenue will allow the State to prepare for federal funding cuts by investing in the MTA, childcare, NYCHA, and other critical services and infrastructure.

Fiscal Policy Institute2025-04-24T15:25:08-04:00April 21st, 2025|Featured on Home, State Budget, Tax & Budget|