Economic Outlook | Fiscal Policy Institute

Reworking New York State’s Family Tax Credits

March 8, 2019. The human costs of child poverty are staggering. Experiencing poverty as a child – even for short stints – can impair brain development, physical and mental health, and academic achievement, and increase the possibility of child welfare involvement. And the impacts can last a lifetime. Childhood poverty is the single best predictor of adult poverty. Child poverty also imposes extraordinary economic costs to the state. A report just issued by the National Academies of Sciences, Engineering, and Medicine estimates that child poverty costs the nation [...]

Cyierra Roldan2021-01-06T09:55:31-05:00March 8th, 2019|Blog, Economic Outlook, Economic Trends & Policy, Reports, Briefs and Presentations|

Cuomo’s Third Term: Socially Liberal, Fiscally Conservative?

December 20, 2018. This article discusses the beginning of Governor Cuomo's third term and his potential progressive agenda. The Governor laid out his agenda during a press conference a few days ago where he stated that he would use former President and former New York Governor, Franklin Delano Roosevelt, as a model for his priorities. He proposed numerous agenda items like implementing the DREAM Act, which allows children of undocumented immigrants to receive college aid, and the legalization of recreational marijuana. However, while many of the [...]

Anthony Troia2021-01-06T12:43:06-05:00December 20th, 2018|Economic Outlook, FPI in the News|

Does Amazon Cuomo’s ‘$9 To $1’ Sales Pitch Make Sense?

November 20, 2018. This article discusses the tax breaks that Governor Cuomo has agreed to give Amazon for moving one of their headquarters to Long Island City. The article goes on to discuss the Governor's argument for agreeing to provide Amazon with an estimated $3 billion in subsidies that includes city and state tax breaks, infrastructure slush funds, and helipads, which he argues is benefiting New York State because if he didn't provide these tax breaks the state would miss out on the revenue that [...]

Cyierra Roldan2021-01-06T12:35:45-05:00November 20th, 2018|Economic Outlook, FPI in the News|

Amazon Plans to Split

November 13, 2018. FPI's Deputy Director and Director of Immigration Research, David Dyssegaard Kallick, was interviewed on SinoVisionNet where he discussed Amazon's plans to split HQ2 to Long Island City, New York and Arlington, Virginia. He suggested that Long Island City is a finalist because they have the labor force that Amazon may be looking for, with highly educated residents. He highlights that Long Island City has La Guardia Community College and the opportunity for expansion. Kallick was asked about the impacts on Long Island [...]

Cyierra Roldan2021-01-06T12:32:59-05:00November 13th, 2018|Economic Outlook, FPI in the News|

Cynthia Nixon Aims to Tax Wealthy to Pay for $7 Billion Education Plan

June 13, 2018. This article discusses how gubernatorial candidate, Cynthia Nixon, plans to raise taxes on high-earners and businesses to pay for her $7.4 billion education plan to expand access to college and boost spending on K-12 education. Multiple organizations, including the Fiscal Policy Institute, commented on her plans to raise taxes to pay for expanding education and mass transit throughout the state. Jonas Shaende, chief economist at the left-leaning Fiscal Policy Institute, said he supported efforts to find more revenues through taxes on the [...]

Anthony Troia2021-01-06T11:51:10-05:00June 13th, 2018|Blog, Economic Outlook|

Legislative Briefing: Supporting New York’s Local Governments

May 22, 2018 Empire State Plaza, Meeting Room 4, Albany, NY This legislative briefing will address the problem of fiscal stress among New York’s local governments and the role the State Legislature can play in addressing these challenges. What can NY learn from other states? What does the in depth research on NYS show? We are seeing important shifts in intergovernmental relations, most recently with the Federal tax reform on SALT. How can NY best respond to these challenges? Come share in a discussion of [...]

Anthony Troia2021-01-06T11:37:38-05:00May 9th, 2018|Blog, Economic Outlook, Economic Trends & Policy|

New Laws Raise Minimum Wage; Cut Taxes, Business Costs

December 27, 2018. Several new laws effective Jan. 1 will impact family budgets while trying to improve New York State’s business climate. “Given the damaging and destructive tax and budget policies coming out of Washington that seem to target poor and working class families, it’s good to know that our state has some countermeasures in place that actually help struggling New Yorkers,” said Ron Deutsch of the Fiscal Policy Institute, a labor-backed group that lobbies for the working poor. Access to Full Article HERE

Anthony Troia2021-01-08T09:49:17-05:00December 27th, 2017|Economic Outlook, FPI in the News|

Brian Talks New York – Trump to NY: Drop Dead

December 14, 2017. Ron Deutsch, FPI's Executive Director, got to go on Brian Talks New York which is anchored by Peabody Award-winning public radio host Brian Lehrer. Each week Brian and his guests from academia, journalism and politics analyze the latest news in Brian's home town of NYC. The segment is on How's the Trump tax reform bill likely to hit New Yorkers, rich, middle class and poor? Joining Brian’s panel of experts, AFL-CIO chief economist William Spriggs, Empire Center for Public Policy research director [...]

Anthony Troia2021-01-08T09:47:44-05:00December 14th, 2017|Economic Outlook, FPI in the News|

PolitiFact: Cost estimates of ending worker program vary widely

November 25, 2017. This Politifact article is assessing the claim by U.S. Rep. Joaquin Castro. He tweeted that the United States would lose $164 billion in GDP over a decade if they terminated Temporary Protective Status (TPS). TPS is a status for immigrants from countries experiencing armed conflict, natural disasters, epidemics and other temporary conditions preventing the safe return of their citizens. This status provides immigrants with TPS work authorization and protection from deportation, but does not include a pathway to citizenship. The Trump administration [...]

Cyierra Roldan2021-01-08T09:44:55-05:00November 25th, 2017|Economic Outlook, FPI in the News|

Experts: Studies Show Refugees are Key to Stabilizing Declining Rust Belt Cities Like Syracuse

October 26, 2017. This article discusses the Welcoming Economies Convening that was held in Syracuse, New York, a coalition of public and business leaders who are dedicated to resettling refugees. These organizations are aware of the economic contributions of refugees such as the reversal of population decline and job creation. These groups came together at the convening to discuss how to further accelerate and help grow their economic contributions. Fiscal Policy Institute's Immigration Research Director David Kallick. "When we're talking about growth, we have to talk about [...]

Cyierra Roldan2021-01-08T09:32:37-05:00October 25th, 2017|Economic Outlook, FPI in the News|

NY Daily News: NYC jobs market booming under Cuomo — but for rest of state, it’s a different story

NEW YORK DAILY NEWS By Jim Heaney and Charlotte Keith Saturday, April 1, 2017, 12:47 PM Job creation in New York State under Gov. Cuomo is akin to a tale of two cities. There is New York City — and everyplace else. New York City added some 600,000 jobs since Cuomo took office in 2011. That's a 16% jump, well above the national average of 11% and better than all but five states. Job growth is more modest elsewhere in the Empire State — and [...]

Anthony Troia2021-01-07T12:49:34-05:00April 7th, 2017|Blog, Economic Outlook|

Will Trump’s Immigration Policies Wreck The Construction Industry?

April 4, 2017. FPI's, David Dyssegaard Kallick, was quoted in an article arguing that Trump's immigration policies could have significant implications on industries heavily populated with immigrant workers, such as the construction industry. The article argues that Trump's policies instill fear in workers, create abuse and will create a decline in workers in the construction industry For industries traditionally populated by immigrants, like construction, the policies could have significant implications. The uncertainty surrounding how these orders will play out nationally and even in cities like [...]

Cyierra Roldan2021-01-07T12:50:45-05:00April 4th, 2017|Blog, Economic Outlook|

A Grand Alliance to Save Our Public Postal Service

May 12, 2016. The U.S. Postal Service (USPS) is under attack by forces that favor privatization and oppose sensible proposals to invest in expanding its package delivery services and in re-introducing postal banking services that exist in many countries and that were provided in the United States from 1910 to 1966. With the Postal Service’s unparalleled network of post offices in every neighborhood and village in the country, postal banking has the potential to provide affordable, consumer-friendly financial services to lower-income households and communities that [...]

Anthony Troia2020-11-13T14:56:15-05:00May 12th, 2016|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Testimony|

New York State Economic and Fiscal Outlook FY 2017

February 3, 2016. In its 26th annual New York State budget briefing book, the Fiscal Policy Institute analyzes and comments on Governor Andrew Cuomo’s FY 2017 Executive Budget. The Executive Budget advances some bold and progressive proposals that well reflect the values and needs of New Yorkers. In particular, the governor has shown great leadership and vision in forcefully advocating for a first-in-the nation statewide $15 minimum wage. If enacted, the minimum wage increase would lift the incomes of 3.2 million New Yorkers who desperately [...]

Anthony Troia2020-11-13T15:08:13-05:00February 3rd, 2016|City Budget, Economic Outlook, Economic Trends & Policy, Education, Healthcare, Labor Market & Workforce, Reports, Briefs and Presentations, Social Policy, State Budget, Tax Policy|

Business profits in New York State have grown much faster than wages since 2001

December 1, 2015. In a new analysis, the Fiscal Policy Institute finds that business profits per worker in New York State increased by 61% from 2001-13, while labor compensation per worker has risen by only 34%, and the typical worker received wage increases of 25-29%, much less than inflation. James Parrott, the Institute’s Deputy Director and Chief Economist stated: “These data confirm once again that most workers in New York have not been sharing in the fruits of the state’s economic growth over the past [...]

Anthony Troia2020-11-13T14:58:51-05:00December 1st, 2015|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Reports, Briefs and Presentations|