Federal Taxes & Budget Policy

Advocates Propose Capturing Part of Fed’s Corporate Tax Cut

January 3, 2018. In Albany on Tuesday, advocates for the needy proposed a “recapture tax” in which the state would keep some of the federal tax breaks headed to corporations. The advocates said the recapture tax could help make up for expected federal cuts to Medicaid, Medicare, Social Security and other programs proposed for later this year that would worsen the plight of the working poor in New York. Congressional leaders and President Donald Trump said they would consider cutting the entitlement programs in part [...]

2021-01-06T10:54:52-05:00January 3rd, 2018|Federal Taxes & Budget Policy, FPI in the News|

Teachers Union, Progressive Groups Fight GOP Tax Plan

November 16, 2017. Progressive advocates and lawmakers are ramping up efforts to block a Republican tax bill that would end SALT deductions and give cuts to wealthy Americans. A new ad released this week by the group Not One Penny is putting the pressure on GOP members of Congress who have yet to take a firm stand on the bill. The state teacher's union has signed on to this campaign and with us in studio to talk more about this is NYSUT Political Action Coordinator [...]

2021-01-08T09:42:56-05:00November 16th, 2017|Federal Taxes & Budget Policy, FPI in the News|

HOUSE TAX PLAN: BENEFIT FOR RICHEST 1% in NYS GROWS OVER TIME

HOUSE TAX PLAN: BENEFIT FOR RICHEST 1% in NYS GROWS OVER TIME  By 2027 Wealthiest 1% Get Average Tax Cut of $34,000 and Poorest 20% Get $90   A 50-state analysis of the House tax plan released last week reveals that in New York State the wealthiest 1 percent of New Yorkers will receive the greatest share of the total tax cut in year one and their share would grow through 2027. Further, the value of the tax cut would decline over time for every [...]

2021-01-08T09:40:58-05:00November 9th, 2017|Blog, Federal Taxes & Budget Policy, Press Releases|

Federal Budget Cuts Will Hurt Children, Official Warns

October 18, 2017. FPI's executive director, Ron Deutsch, discusses how proposed cuts in federal spending could seriously damage programs that help needy children and families in the Elmira area, where he was the keynote speaker for the annual State of the Child in Chemung County Breakfast. The gathering, sponsored by the Every Child Matters Coalition, took place at the Elmira Community Kitchen. Deutsch told the group that New York relies heavily on federal dollars, and that proposed budget cuts, being discussed in Washington, could devastate [...]

2021-01-08T09:31:54-05:00October 19th, 2017|Federal Taxes & Budget Policy, FPI in the News|

After Health Care Bill Fails, NY Still Faces Questions

September 28, 2017. This article discusses the uncertainty surrounding the federal government and potential cuts to New York, which could run as high as $17 billion. According to the article, The latest push to repeal and replace broad aspects of the Affordable Care Act has failed, at least for now. Advocates opposed to the bill aren’t sure they’ve heard the last from it. “This bill is a lot like Frankenstein’s monster,” said Ron Deutsch of the Fiscal Policy Institute. “It just requires another jolt of [...]

2021-01-08T09:28:29-05:00September 28th, 2017|Federal Taxes & Budget Policy, FPI in the News|

Senior Budget and Policy Analyst

The Senior Budget and Policy Analyst will lead work in a range of policy areas of importance to the Fiscal Policy Institute. He or she will produce timely, comprehensible, and reliable research. A central part of the job will be leading FPI’s research analyzing state budget proposals in real time every January to April. The right candidate will have strong policy analysis skills, will work well independently and in teams, and will be able to communicate information effectively to diverse audiences. Like all FPI staff, the right candidate for this position will have a commitment [...]

2021-01-08T09:27:59-05:00September 26th, 2017|Blog, Federal Taxes & Budget Policy|

More Than 100 NY Groups Urge Congress to Reject Budget Cuts

September 8, 2017. More than 100 nonprofit human services organizations from across the state are calling on legislators to reject proposed federal cuts to social services programs. Organizations from Buffalo to Binghamton to Brooklyn signed on to letters that were sent to New York’s Congressional delegation, warning that these cuts would devastate core public services that provide New Yorkers in need with vital support. Link for FPI's press release for the letter Link to the Wall Street Journal Link to the Associated Press Link to radio interview [...]

2021-01-08T09:24:57-05:00September 8th, 2017|Federal Taxes & Budget Policy, FPI in the News|

Fiscal Policy Institute Raises the Alarm About Cassidy-Graham Bill

September 8, 2017. This article discusses the potential devastating consequences of passing the Cassidy-Graham bill, new legislation that repeals and replaces the Affordable Care Act (ACA) like previous efforts made by Congressional Republicans. The bill would cut New York’s federal funding by $22 billion for health coverage by 2026, according to a new report by the Center on Budget and Policy Priorities based in Washington DC. New York would be the hardest-hit state, with an eye-popping estimated cut of 70 percent in 2026, relative to current law. [...]

2021-01-08T09:24:42-05:00September 8th, 2017|Federal Taxes & Budget Policy, FPI in the News|

Report Warns Latest Health Care Bill Would Cost NY $22 Billion

September 8, 2017. This articles discusses a new Affordable Care Act (ACA) repeal bill would cut New York’s federal funding by $22 billion for health coverage by 2026, according to a new report by the Center on Budget and Policy Priorities based in Washington DC. New York would be the hardest-hit state, with an eye-popping estimated cut of 70 percent in 2026. A report released Thursday raised concerns over the loss of federal funding that would hit New York if the latest measure to overhaul the [...]

2021-01-08T09:24:26-05:00September 8th, 2017|Federal Taxes & Budget Policy, FPI in the News|

More Than 100 New York Nonprofits Call on NYS Legislators to Reject Proposed Federal Budget Cuts

FOR IMMEDIATE RELEASE September 8, 2017 Media Contact: Ron Deutsch, Executive Director, FPI 518-469-6769 MORE THAN 100 NEW YORK NONPROFITS CALL ON NYS LEGISLATORS TO REJECT PROPOSED FEDERAL BUDGET CUTS  Coalition Highlights Devastating Impact of Cuts on New York Families   Read the Letter Here More than 100 nonprofit human services organizations from across the state are calling on legislators to reject proposed federal cuts to social services programs. Organizations from Buffalo to Binghamton to Brooklyn signed on to letters that were sent to New York’s Congressional [...]

Cuomo Raises Prospect of ‘Faso-Collins Federal Tax’

June 26, 2017. An article featured in the Times Union discusses the proposal of Governor Cuomo's "Faso-Collins Federal Tax," which is a $2.3 billion tax added on to local property taxes in New York State in order to offset the costs of Medicaid. The article notes that some do not support this proposal and criticize the governor for not cutting his own budget and deem is as a scheme and suggest that another source of revenue is needed. Gov. Andrew Cuomo on Monday warned of [...]

What’s the future for fiscal federalism in New York?

December 28, 2016. The following op-ed by James Parrott appeared in City & State New York on December 28, 2016. With President-elect Donald Trump and a newly empowered, Republican-dominated Congress soon taking control of the federal budget, the potential for substantial cuts in domestic spending poses gargantuan challenges for New York state and city budgets. Roughly $57 billion in federal dollars flow into our city and state budgets annually. Medicaid accounts for approximately $35 billion, with another $14 billion in categorical funds flowing to the [...]

70% of Fortune 500 Companies Use Offshore Tax Havens

June 9, 2014. In 2013, 70% of Fortune 500 companies used tax havens. More of these companies were based in New York than in any other state, depriving New York of considerable tax revenue. The practice of “booking profits” in foreign countries where there are few or no taxes is examined in a new study released yesterday by U.S. Public Interest Research Group (USPIRG) and Citizens for Tax Justice (CTJ), “Offshore Shell Games 2014: The Use of Offshore Tax Havens by Fortune 500 Companies.” For [...]

NYS Can Help Low-income Working Families with Children by Increasing its Earned Income Tax Credit

May 20, 2014. It comes as no surprise to working families that New York State’s tax system is fundamentally unfair. Low- and middle-income workers pay, on average, a much higher share of their income in state and local taxes than the highest income earners. According to analysis by the Washington, D.C.-based Institute on Taxation and Economic Policy, the 40% of New York’s tax filers with the lowest incomes pay at least 10% of their income in state and local taxes and the 20% of households [...]

Almost 3.2 million New Yorkers to See a Cut in Food Assistance Beginning Today

November 1, 2013. Beginning today, almost 3.2 million people in New York will see their food assistance benefits cut as the federal government ends a temporary boost to the Supplemental Nutrition Assistance Program (SNAP). The New Yorkers affected by this cut—in what used to be known as the “food stamps” program—include more than 1.2 million children and over 1 million elderly and disabled individuals. Overall, New York residents will receive $332 million less in SNAP benefits in the 11 months from November 1, 2013 through [...]

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