NYS Budget

The American Rescue Plan Act of 2021: New York’s Share of the Coronavirus Fiscal Recovery Fund

Read the full report: The American Rescue Plan Act of 2021: New York’s Share of the Coronavirus Fiscal Recovery Fund The American Rescue Plan Act of 2021 includes $350 billion in aid for states, territories, and tribal governments for the purpose of alleviating the fiscal stress caused by the COVID-19 pandemic. Of the $350 billion, $195.3 billion is allocated for payments to states, $130.2 billion for city and county governments, $20 billion for tribal governments, and $4.5 billion for territories. These coronavirus fiscal recovery funds [...]

The American Rescue Plan and the New York State Budget

The year 2021 began under the threat of a historic state budget shortfall of $15 billion. Compounded by municipal and county-level fiscal stress, it imperiled funding for public services and employees – a terrible risk as New York continued to experience the social, emotional, and fiscal impacts from the pandemic. The governor’s proposed Executive Budget featured an “if-then” scenario that reflected a minimum level of $6 billion in federal aid and assumed a remaining $9 billion difference. At the same time, the governor requested $15 [...]

FPI Testifies Before Join Legislative Budget Hearing on Taxes

FOR IMMEDIATE RELEASE: February 23, 2020 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Fiscal Policy Institute's Recommendations for the FY 2022 State Budget (Albany, NY) Today the Fiscal Policy Institute (FPI) testified before the Joint Legislative Budget Hearing on taxes. FPI urges a bold vision in crafting the FY 2022 state budget, recommending progressive tax policies so that all New Yorkers can grow, prosper, and build a foundation for the future. The video replaces FPI's annual in-person budget presentation. Statement from Dr. Jonas Shaende, Chief Economist: “This year’s [...]

Public Testimony Integral to New York’s State Budget Process

New York State’s constitution requires the governor to provide the state legislature with a yearly balanced budget proposal including the necessary appropriation bills and legislation. The Legislature reviews the proposed executive budget and offers changes or modifications and enacts the state budget. As is customary, Governor Cuomo presented his proposed Executive Budget for FY 21-22 in January which was followed by a review and analysis from both legislative houses. The Assembly Ways and Means Committee’s Review and Analysis of the 2021-22 Executive Budget is known [...]

New York’s Pandemic State Budget: Recovering and Reimagining

FOR IMMEDIATE RELEASE: February 10, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 ***VIDEO link below***   New York's Pandemic State Budget: Recovering and Reimagining  Fiscal Policy Institute's Recommendations for the FY 2022 State Budget    Read the report: "Economic and Fiscal Outlook 2022: New York Recovering and Reimagining"  Watch the video: Fiscal Policy Institute's Annual State Budget Presentation 2021 (Albany, NY) Today the Fiscal Policy Institute (FPI) released a 30-minute video highlighting its report "New York State's Pandemic Budget: Recovering and Reimagining." FPI urges a bold vision in crafting the FY [...]

FPI’s Presentation on the Proposed Executive Budget for FY 2022

Our state budget helps determine the future for every New Yorker. This year the stakes are exceptionally high as the pandemic continues to imperil our health and financial well-being. Will the choices we make crafting our state budget reduce inequality, or will the gap continue to widen? FPI took a look at the proposed New York State Executive Budget and offered actions to create a more just New York for all.  Watch our 30-minute video overview and read the report "Economic and Fiscal Outlook 2022: New York Recovering and Reimagining" to learn more.   [...]

Arts Central to New York City’s Recovery

As New York looks to restart our economic engine after the pandemic, the arts and culture play a critical role, especially in New York City. Governor Cuomo underscored that connection in his State of the State and New York State budget announcements. "Cities are by definition centers of energy, entertainment, theatre, and cuisine. Without that activity and attraction, cities lose much of their appeal. What is a city without social, cultural, and creative synergies? New York City is not New York without Broadway.” The coronavirus [...]

2021-01-19T12:19:29-05:00January 19th, 2021|Blog, Economic Trends & Policy, NYS Budget|

Memo of Support: Budget Equity Act

The Fiscal Policy Institute strongly supports S .8198A (Biaggi)/A.9100A (Gottfried) to create a more equitable balance of power within New York’s state government. As the legislation requires passage by both houses within two consecutive legislative sessions, FPI urges the senate and assembly to pass this legislation before August 3, 2020, and again in the 2021 - 2022 session so it can go before the voters in the 2021 fall election. The current provisions of the New York State Constitution, as interpreted by the Court of [...]

2021-02-10T20:12:41-05:00July 23rd, 2020|Letters, NYS Budget|

Reflections on the New York State Budget

For Immediate Release: April 4, 2020 Media Contact: communications@fiscalpolicy.org, 518-786-3156  Reflections on the New York State Budget  (Albany, NY) The process of crafting the FY 2020-2021 State Budget began with warnings of a dire budget shortfall and concluded with efforts to alleviate the fallout caused by an economy brought to a sudden standstill by a global pandemic. Throughout the budget process and the rising projections around revenue losses, FPI has called for public policies based on research and careful analysis that provide a clear path toward creating a more just and equitable state. We will continue our work in partnership [...]

2021-03-31T15:27:00-04:00April 3rd, 2020|NYS Budget, Press Releases|

Don’t Let the Pandemic Shortchange Our State Budget Process

For Immediate Release: March 31, 2020   (Albany, NY) Today the Fiscal Policy Institute (FPI) released a set of recommendations to safeguard New York’s budget process and ensure a just budget for all. Predictions of a budget shortfall preceded the unforeseen economic impact of the pandemic and FPI urged leadership to think beyond the continued use of the same austerity budget measures put in place year after year. Now, faced with the urgent needs of our community members, FPI urges Governor Cuomo and state leadership [...]

2020-12-30T14:02:44-05:00March 31st, 2020|NYS Budget, Press Releases|

FPI’s 2020 State Budget Presentations

Our state budget is an opportunity to define our values and choose our future. Will our actions reinforce inequity and inequality or can we pull together to create a more just New York for all? FPI took a look at the proposed executive budget and shared our thoughts in two presentations, one in Albany and one in New York City. If you missed those informative events, you can still take a look at what was presented. Financial Plan Economic Development Education Health Care Housing Human Services Immigration [...]

2020-12-30T14:08:49-05:00January 23rd, 2020|Blog, Must Read, NYS Budget|

Fiscal Policy Institute Reacts to Governor Cuomo’s State of the State Address

FOR IMMEDIATE RELEASE: January 8, 2020 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Fiscal Policy Institute Reacts to Governor Cuomo's State of the State Address FPI Agrees that New Yorkers Deserve Results, Not Rhetoric  Statement from Ron Deutsch, Executive Director, Fiscal Policy Institute   “Governor Cuomo is right that New Yorkers deserve results, not rhetoric. While our state economy booms, we continue to be short-changed by austerity budgeting. Missing from the governor’s State of the State address is clarity on closing the budget gap and meeting our state’s pressing needs. The [...]

2021-03-31T15:27:15-04:00January 8th, 2020|NYS Budget, Press Releases|

The New York State Budget Must Support All New Yorkers.

January 6, 2020 As the New York State legislative session begins with the state facing a multi-billion-dollar state budget deficit, the question is clear—what kind of New York do we want and how will we get there?  The Fiscal Policy Institute (FPI) urges Governor Andrew Cuomo, Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl E. Heastie to choose sound economic and social policies that promote growth and development for the many rather than the few so that all New Yorkers have an equal chance at opportunity. FPI knows that we can craft [...]

2020-12-30T14:10:11-05:00January 6th, 2020|NYS Budget, Press Releases|

New York Budget Passes With Mansion Tax Hike In Tow

April 3, 2019. This article discusses the disappointment that advocates expressed when the New York State 2020 fiscal year budget was passed and it did not include a pied-a-terre tax, that would have implemented a recurring tax on non-primary residences that were worth more than $5 million. The author goes on to highlight that although a pied-a-terre tax was not included, a "mansion" tax, which will implement a one-time tax on residences sold for more than $25 million and a real estate transfer fee was included. [...]

2021-01-06T10:19:44-05:00April 3rd, 2019|FPI in the News, NYS Budget|

In Our Opinion: Cuomo Wrong to OK His Own Hike in Salary

April 3, 2019. This op-ed discusses the opposition to the governor and lieutenant governor's pay raises included in New York State's 2020 fiscal year budget. The author notes that Governor Cuomo received a 40 percent pay raise and will be the highest paid chief executive by 2021. The author goes on to discuss how the pay raise was included in the budget despite funding for library construction and the Special Olympics being cut. Once again, the state budget was passed on time — but just barely. [...]

2021-01-06T10:18:59-05:00April 3rd, 2019|FPI in the News, NYS Budget|
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