FPI in the News

FPI: Mayor’s Continued Budget Cuts Are Unwarranted and Fiscally Irresponsible

"Improving tax receipts and new State aid, combined with lower asylum seeker costs and the customary use of annual reserves, are more than sufficient to balance next year’s budget" ALBANY, NY | In response to the New York City Preliminary Budget for Fiscal Year 2025, Fiscal Policy Institute Director Nathan Gusdorf released the following statement: “Given the City’s improving fiscal outlook, the Mayor’s continued budget cuts are both unwarranted and fiscally irresponsible. “Improving tax receipts and new State aid, combined [...]

Fiscal Policy Institute2024-12-19T09:19:57-05:00January 16th, 2024|City Budget, Featured on Home, FPI in the News, Press Releases|

FPI: Modest Budget Lacks Deep Investments Needed to Reverse Affordability Crisis & Stem Population Loss

FOR IMMEDIATE RELEASE: January 16, 2024 Media Contact: press@fiscalpolicy.org June Cash Receipts Continue to Stabilize Following April Volatility "Given recent inflation and economic growth, state spending is shrinking slightly relative to the size of the overall state economy" ALBANY, NY | In response to the New York State Executive Budget for Fiscal Year 2025, Fiscal Policy Institute Director Nathan Gusdorf released the following statement: “After months of overly pessimistic revenue projections, the Executive Budget [...]

Fiscal Policy Institute2024-12-19T09:19:57-05:00January 16th, 2024|FPI in the News, Press Releases, State Budget|

Mind the Gap: When are State Budget Gaps a Concern?

New York’s fiscal year 2024 Enacted Budget Financial Plan, released June 2023, projected budget shortfalls for fiscal years 2025 through 2027. While future budget gaps are a perennial feature of New York’s budget forecasts, the most recent projected gaps exceed those generally projected in times of greater economic stability, aligning instead with gaps projected during economic downturns. These projections must be interpreted, however, in light of an improving economic outlook as well as the inherent uncertainty of fiscal forecasting.

Fiscal Policy Institute2024-12-19T09:19:59-05:00September 5th, 2023|Blog, FPI in the News, Policy & Research, Reports, Briefs and Presentations, State Budget, Tax & Budget|

FPI Executive Director Nathan Gusdorf speaks with Errol Louis on NY1

Nathan Gusdorf, Executive Director of the Fiscal Policy Institute, spoke with Errol Louis on NY1's "Inside City Hall" about FPI's recent report on how housing and rental costs, not taxes, explain the recent trend of migration out of New York. They also discussed the Governor's Executive Budget.

Info2024-12-18T12:24:16-05:00February 2nd, 2023|FPI in the News|

FPI in the New York Times: New New York plan silent on need for revenue

The New York Times covered a panel discussion that included Governor Kathy Hochul and Mayor Eric Adams, which focused on New York City's recovery from the coronavirus pandemic and the proposals found in the "Making New York Work for Everyone" report: "Nathan Gusdorf, executive director of the Fiscal Policy Institute, said the mayor’s recent cuts to agency budgets — along with the governor’s opposition to raising taxes on the wealthy — will make the proposals in the report difficult to achieve.

Info2024-12-18T12:24:16-05:00December 14th, 2022|FPI in the News|

Make Care Work, Fair Work

FPI's Shamier Settle was interviewed on Equal Rights & Justice radio, WBAI 99.5 FM with Marrisa Senteno, Co-Director of the NY Chapter of the National Domestic Workers's Alliance. FPI's report, Domestic Workers are Essential Workers: By the Numbers in New York , was highlighted in this episode of Equal Rights and Justice with Mimi Rosenberg. Listen to the interview below.

Anthony Troia2024-12-18T12:24:18-05:00April 16th, 2021|FPI in the News, Migration|

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 Troia2024-12-18T12:24:18-05:00March 29th, 2021|FPI in the News|

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 Troia2024-12-18T12:24:19-05:00March 19th, 2021|FPI in the News, Migration, State Budget, Tax & Budget, Tax Policy|

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 Troia2024-12-18T12:24:19-05:00March 18th, 2021|FPI in the News, Migration, State Budget, Tax & Budget, Tax Policy|

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 Troia2024-12-18T12:24:19-05:00March 16th, 2021|Economic Trends & Policy, FPI in the News, State Budget, Tax & Budget, Tax Policy|

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 Troia2024-12-18T12:24:19-05:00March 16th, 2021|Economic Trends & Policy, FPI in the News, State Budget, Tax & Budget, Tax Policy|

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 Troia2024-12-18T12:24:20-05:00March 15th, 2021|FPI in the News, Migration, State Budget, Tax & Budget|

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 [...]

Anthony Troia2024-12-18T12:24:20-05:00February 12th, 2021|Economic Trends & Policy, FPI in the News, Labor Market & Workforce, Migration|

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 [...]

Anthony Troia2024-12-18T12:24:21-05:00February 12th, 2021|Economic Trends & Policy, FPI in the News, Migration|