Tax & Budget

We’re All in This Together: Federal, State, and Local Governments All Have a Part to Play in the Economic Recovery

February 26, 2009. The National Association of County Administrators asked FPI's Frank Mauro and James Parrott to write the lead article for The Journal of County Administration, December 2008/February 2009. The article stresses that while the $787 billion American Recovery and Reinvestment Act provides a significant lifeline to the states at a critical point in time, it will not completely eliminate the need for some painful budget balancing actions by state and local governments. The key challenge for the states is finding the mix of [...]

2020-11-13T14:42:48-05:00February 26th, 2009|Economic Outlook, Economic Trends & Policy, Letters, Tax & Budget|
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FPI, NYFF, and Economist Robert H. Frank applaud Senator Jeffrey Klein’s efforts to restore progressivity to the income tax

February 25, 2009. New Yorkers for Fiscal Fairness and the Fiscal Policy Institute today praised Senator Jeffrey Klein's efforts to reform New York’s current inequitable tax system by increasing rates at the top of the income spectrum - adding, however, that the Senator's bill simply does not raise enough revenue to sufficiently offset the onerous budget cuts proposed by the Governor. Unfortunately, the middle income tax relief in this bill will not provide stimulus if spending cuts, are in effect, paying for those tax cuts. [...]

2012-03-18T02:29:31-04:00February 25th, 2009|Press Releases, State Budget, Tax & Budget, Tax Policy|
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Major education organizations release analysis showing 64 percent of school districts face cuts in excess of $15,000 per classroom

February 22, 2009. The Fiscal Policy Institute joined with the Alliance for Quality Education and other groups to publicize the grim truth about Governor Paterson's $2.5 billion in school aid cuts. Nearly two thirds of school districts face cuts in excess of $15,000 per classroom, and sixty districts face cuts over $30,000 per classroom. Education committee chairwomen Assemblywoman Nolan and Senator Oppenheimer joined education advocates in calling for school aid restorations; the organizations called for fair share tax reform. Release with 14-page district-by-district analysis.

2020-11-13T15:04:35-05:00February 9th, 2009|City Budget, Education, Press Releases, Social Policy, State Budget, Tax & Budget|
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Testimony on the 2009-2010 Executive Budget – Workforce Issues

February 4, 2009. Testimony presented by FPI executive director Frank Mauro to the Senate Finance and Assembly Ways and Means Committees. The Executive Budget contains many proposals that will directly and indirectly cut jobs, exacerbating the recession in the state economy. There are other ways to close budget gaps - notably, an increase in high-end income taxes - that would do much less harm to the economy.

2020-11-13T14:50:34-05:00February 4th, 2009|Economic Outlook, Economic Trends & Policy, State Budget, Tax & Budget, Tax Policy, Testimony|
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School Finance On Long Island: An Analysis of State and Local Funding Patterns

January 30, 2009. FPI researched and wrote this paper for the Rauch Foundation as a supplemental report to Long Island Index 2009, a study of how Long Island is faring as a region. The index includes reports on specific indicators selected to reflect region-wide impact and interests, and identifies emerging trends and gaps that should be addressed now to avoid future problems. FPI was also cited widely in another section of the Index, Long Island's Educational Structure. Read the paper - School Finance On Long [...]

2020-11-13T15:04:35-05:00January 30th, 2009|City Budget, Education, Reports, Briefs and Presentations, Social Policy, Tax & Budget|
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Nobel Economist: Millionaires’ Tax Is Economically Preferable

January  2009. In a March 27, 2008 letter to Governor Paterson, Majority Leader Bruno and Speaker Silver, Nobel economist Joseph Stiglitz makes a compelling case that the millionaires' tax is "economically preferable" to raising regressive fees or cutting state spending. Also see: Voters Support Income Tax on Those Making $250K or More to Replace Budget Cuts, a Siena Research Institute poll released January 26, 2009 Closing state deficit requires prudence, by former budget director Dall Forsythe and Shanna Rose (Albany Times Union, December 10, 2008) [...]

2012-07-11T18:37:35-04:00January 26th, 2009|Blog, State Budget, Tax & Budget, Tax Policy|
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New York’s Underinvestment in Public Higher Education

January 15, 2009. After more than a decade of financial support falling short of growing enrollment, the executive budget calls for cuts to SUNY and CUNY - at the same time that more students seek post-secondary opportunities during the economic downturn. Governor Paterson's proposed 2009-2010 budget features reductions in state aid to CUNY and SUNY, despite a projected increase in enrollment for 2009-2010. This report details the context for the cuts - a decade of underinvestment - and makes the economic case for supporting public [...]

2020-11-13T15:08:13-05:00January 15th, 2009|Education, Press Releases, Reports, Briefs and Presentations, Social Policy, State Budget, Tax & Budget|
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Economists to Governor: Raise High-End Income Taxes To Help Close Budget Gaps

December 13, 2008. 120 economists from throughout New York State joined together this week to send a message to Albany: steep cuts in state spending will weaken the already struggling New York economy, and will hurt poor and middle income New Yorkers. In a letter to the governor, the economists urge him to take a balanced approach to closing the gap in the state budget between revenues and spending - an approach that includes raising taxes on high-income households.

2020-11-13T14:50:34-05:00December 13th, 2008|Blog, Economic Outlook, Economic Trends & Policy, Press Releases, State Budget, Tax & Budget, Tax Policy|
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Testimony before the Assembly Ways and Means Committee hearing on the impact of the economic crisis on the state budget

November 13, 2008. Testimony submitted by FPI's Frank Mauro and Ronald Deutsch of New Yorkers for Fiscal Fairness. To avoid deepening the already threatening recession, the state must not rely solely on drastic cuts in state spending to close current and expected budget gaps. A balanced approach includes tapping the state's tax stabilization reserve fund (put together for this very purpose), surgical cuts in wasteful spending, and a high-end income tax surcharge like that used successfully in 2003 to close post-9/11 gaps.

2020-11-13T14:50:34-05:00November 13th, 2008|Economic Outlook, Economic Trends & Policy, State Budget, Tax & Budget, Tax Policy, Testimony|
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