Tax & Budget

Impact of the New York City FY 2013 Executive Budget Proposal on Women, Children and Families

June 18, 2012. This report prepared for the New York Women's Foundation shows that the budget cuts proposed in the Mayors Executive Budget fail to respond to heightened needs and jeopardize the outlook for economic improvement and security for many low-income women and their families. The proposed cuts and funding shortfalls increase the risk of poverty in two ways: by destabilizing those already struggling, and by reducing opportunities to move out of poverty. Reducing the reliance on spending cuts to balance the budget will mitigate [...]

Fiscal Policy Institute2024-12-18T12:28:17-05:00June 18th, 2012|Reports, Briefs and Presentations, State Budget, Tax & Budget|

Advocates urge Cuomo to carry through on tax reform commission

May 25, 2012. Tax reform advocacy groups from around the state gathered on May 22 to remind the Governor that he pledged to create a tax reform commission in his State of the State address earlier this year. News coverage: "Omnibus members question Cuomo's tax plans" - a post by Rick Karlin, Albany Times Union Capitol Confidential blog. "Groups Urge Tax Reform" - a post by Joseph Spector, Albany Watch blog. Includes a video of Ron Deutsch of New Yorkers for Fiscal Fairness talking about [...]

Fiscal Policy Institute2024-12-18T12:28:19-05:00May 25th, 2012|Blog, Economic Trends & Policy, Tax & Budget, Tax Policy|

The Governor’s Proposed Budget: Continued Scarce Funding for Women, Families and Youth in a Weak Recovery

March 21, 2012. With a weak recovery, unemployment remains high and hardships have mounted for many New York City women, families and youth. Prepared for the New York Women's Foundation, this brief finds that three years of state budget cuts have frayed the safety net during a time of growing need, making it harder for low-income women to access income and job supports as well as vital supportive services, and to secure jobs with a future. The governor's proposed budget makes further cuts in many [...]

Fiscal Policy Institute2024-12-18T12:28:20-05:00March 21st, 2012|Economic Outlook, Economic Trends & Policy, Reports, Briefs and Presentations, State Budget, Tax & Budget|

Counterbudget: Putting People First, Budget Issues that Need Attention

March 19, 2012. The Counterbudget was compiled by New Yorkers from Fiscal Fairness with input from FPI and other cooperating organizations. Report and press release.

Fiscal Policy Institute2024-12-18T12:28:20-05:00March 19th, 2012|Blog, State Budget, Tax & Budget, Tax Policy|

How much does the Tier 6 proposal reduce employee retirement benefits?

March 9, 2012. This brief quantifies the value of the reduction in retirement benefits to the typical member of the NYS Employees' Retirement System (ERS) under the Tier 6 proposal, and finds that the proposal reduces the employee benefit by 39.8 percent.

Fiscal Policy Institute2024-12-18T12:28:20-05:00March 8th, 2012|Reports, Briefs and Presentations, State Budget, Tax & Budget|

Groups call on Governor Cuomo to drop transfer language from state budget

March 8, 2012. FPI and 16 other groups delivered a letter to Governor Andrew Cuomo today asking him to drop language included hundreds of times in his executive budget proposal for 2012-2013. The language undercuts legislative authority and effectively removes the public from decisions regarding the use of taxpayer money by giving the Governor power to move money between state agencies without oversight. The language goes even further than that, authorizing suballocations from "on budget" state agencies to "off budget" public authorities. Press release >> [...]

Fiscal Policy Institute2024-12-18T12:28:21-05:00March 8th, 2012|Blog, Press Releases, State Budget, Tax & Budget|

Briefing on Mayor Bloomberg’s Preliminary FY 2013 New York City Budget

March 6, 2012. Unemployment remains very high in this historically weak "recovery" in NYC, as across the country, and considerable hardships persist. In addition, NYS budget choices and pressures continue to squeeze NYC. The Mayor's budget can only be described as austere: although needs have grown in the wake of the recession, NYC spending on human services funding has fallen by 10 percent. Income concentration has resumed, underscoring the need for progressive tax reform. NYC's business tax expenditures have risen sharply; addressing several tax inequities [...]

Fiscal Policy Institute2024-12-18T12:28:21-05:00March 6th, 2012|Economic Outlook, Economic Trends & Policy, Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

Transfer Authority: The Governor and the New York State Budget

February 8, 2012. WBAI Evening News: Andrea Sears of WBAI interviews FPI Executive Director Frank Mauro, about the provision that Governor Cuomo has included in his 2012-2013 State Operations and Capital Projects appropriations bills, proposing to give unprecedented powers to the Governor's Budget Director to redirect funds from many state agency appropriations to other agencies and public authorities, even off-budget public authorities. The interview with Mauro is 6.5 minutes long and starts at 3:28 of this clip from the WBAI Evening News. It follows a [...]

Fiscal Policy Institute2024-12-18T12:28:21-05:00February 8th, 2012|Blog, FPI in the News, State Budget, Tax & Budget|

Testimony on the 2012-2013 Executive Budget

February 6, 2012. Testimony presented by Frank Mauro, Executive Director of the Fiscal Policy Institute,to the Senate Finance and Assembly Ways & Means Committees' Public Hearing on the 2012-2013 Executive Budget.

Fiscal Policy Institute2024-12-18T12:28:21-05:00February 6th, 2012|City Budget, State Budget, Tax & Budget, Tax Policy, Testimony|

New York State’s Economic and Fiscal Outlook for 2012-2013

January 31, 2012. The Fiscal Policy Institute's 22nd annual budget briefing. Briefing book >>

Fiscal Policy Institute2024-12-18T12:28:21-05:00January 31st, 2012|Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

National tax expert calls for closing New York State Tax loopholes

January 31, 2012. Lawmakers, tax experts and advocates gathered to urge that corporate tax loopholes be closed, pointing to a recent report from Citizens for Tax Justice and the Institute on Taxation and Economic Policy, Corporate Tax Dodging In the 50 States, 2008-2010, which reveals glaring inequities in the way that businesses are taxed (or not taxed). Working from the principles of enforcement, fairness, and transparency, the their taxes, reforming the state’s Corporate Alternate Minimum Tax, taxing nonresident hedge fund management fees, eliminating New York [...]

Fiscal Policy Institute2024-12-18T12:28:22-05:00January 31st, 2012|Press Releases, Reports, Briefs and Presentations, Tax & Budget, Tax Policy|

Sizing up the Governor’s Proposed 2012-2013 Executive Budget in its Economic Context

January 19, 2012. A briefing document by James A. Parrott, Ph.D., Deputy Director and Chief Economist, Fiscal Policy Institute.

Fiscal Policy Institute2024-12-18T12:28:22-05:00January 19th, 2012|Economic Outlook, Economic Trends & Policy, Reports, Briefs and Presentations, State Budget, Tax & Budget|

New York’s Leaders Join the Quest for Tax Fairness

January 12, 2012. Governor Cuomo emphasizes the need to close loopholes. This column by Frank Mauro - excerpt below - was published by 99% New York. Delivering on this objective will require an unbiased review of the litany of tax breaks that have enacted over the years in the name of economic development. Which ones actually create jobs and which ones do not? Which ones should be retained intact, which ones should be repealed, and which ones should be reformed? A year of careful study [...]

Fiscal Policy Institute2024-12-18T12:28:22-05:00January 12th, 2012|Blog, Economic Trends & Policy, Letters, Tax & Budget, Tax Policy|

Coalition calls on Governor and Legislature to close corporate tax loopholes and level the playing field for small business

January 9, 2012. A coalition of community, labor, student, faith and Occupy organizations gathered to release a list of corporate tax dodgers and to announce their campaign to bring fairness and transparency to New York's corporate tax system. The group, which formed last year to work on the "millionaires tax" and personal income tax reform, is calling on Governor Cuomo and the Legislature to close corporate tax loopholes, thereby raising over one billion dollars for this year's state budget. The additional revenue will help New [...]

Fiscal Policy Institute2024-12-18T12:28:22-05:00January 9th, 2012|Blog, Press Releases, State Budget, Tax & Budget, Tax Policy|