Tax & Budget

NYS Tax Reform for Fiscal 2019 – Let’s Take Our Time and Get It Right

Jonas J.N. Shaende, PhD, Fiscal Policy Institute March 26, 2018 Governor Cuomo released his 30-day amendments to the Executive Budget where he outlined his plan for the state’s tax system redesign in response to the tax changes at the federal level. The state legislature – both the Assembly and the Senate – reviewed the plan and supplied their respective amendments to the Executive Budget proposal. The direction taken by the governor is a good one, however, the set of solutions being discussed and the process [...]

Fiscal Policy Institute2024-12-18T12:26:14-05:00March 26th, 2018|State Budget, Tax Policy|

Watchdog Groups Call for the Governor and Legislature to Pass in the Budget a “Database of Deals” Making Business Subsidies Transparent

March 26, 2018. Reinvent Albany, Citizens Budget Commission and Fiscal Policy Institute today called for the Governor and Legislature to pass a “Database of Deals” in this year’s budget. Both houses’ budget bills included a “Database of Deals” (Part KK in A.9508-B and Part LLLL in S.7508-B ) that are very similar and largely track existing legislation introduced by Assembly member Robin Schimminger and Senator Thomas Croci (A.8175 and S.6613-B). A “Database of Deals” will list all state economic development benefits, including grants, loans or [...]

Fiscal Policy Institute2024-12-18T12:26:14-05:00March 26th, 2018|Labor Market & Workforce, State Budget|

Internet Sales Tax Capture Effort Stalled in Albany

March 23, 2018. The expansion of the sales tax on cyberspace transactions was projected to raise $160 million for the state treasury and another $160 million for county governments, many of which split portions of their share with towns, villages and cities. The proposal, advanced by Gov. Andrew Cuomo in his executive budget, was blocked by Senate Republicans, who have been adamant they will not approve new taxes this year. The Retail Council of New York State, representing brick-and-mortar stores throughout the state, is one [...]

Fiscal Policy Institute2024-12-18T12:26:14-05:00March 23rd, 2018|FPI in the News, Tax Policy|

Claw-Back Tax Rally on Wall Street and Beyond

March 20, 2018. On March 9th a protest was held on Wall Street demanding that corporations either pay their workers or pay their fair share of taxes. FPI joined the rally, where ordinary tax payers, elected officials, community organizations and labor unions called for a 0.5% New York State tax on stock buyback trades, which would mean corporations using their federal tax cuts simply to benefit their shareholders would have to pay a small New York State tax on the buyback. The tax is estimated [...]

Fiscal Policy Institute2024-12-18T12:26:14-05:00March 20th, 2018|Blog, Tax & Budget, Tax Policy|

Wealthy Inequality Forum at Caffé Lena on March 27th

“What Wealth Inequality Looks Like in Our Community,” an interactive program, will take place from 6 to 8:30 p.m. Tuesday, March 27, at Caffé Lena, Phila Street, Saratoga Springs. Please join the Fiscal Policy Institute's Ron Deutsch and others in discussing issues like food insecurity, poverty, and the impact of the federal administration's changes on New York.

Fiscal Policy Institute2024-12-18T12:26:14-05:00March 14th, 2018|Blog, Tax Policy|

Liberal Groups Call for Tax on Stock Buybacks

March 13, 2018. Liberal advocacy groups on Friday called for the passage of a tax on stock transfer buybacks, hoping to get the Republican-controlled Senate on board with a move they say would generate an extra $2 billion for the state. "If you're going to use your corporate tax cut -- your 40 percent federal tax cut -- to buyback stocks and enrich your company, rather than use that money to create jobs and increase worker pay, we think you should pay a small tax [...]

Fiscal Policy Institute2024-12-18T12:26:14-05:00March 13th, 2018|FPI in the News, Tax Policy|

2018 State Budget Briefing in NYC

On Wednesday morning, February 28, 2018, the Fiscal Policy Institute will present its 28th annual budget briefing, co-sponsored by the Community Service Society, 633 Third Avenue - the forum will be held on the 16th floor in the Retro Report conference room. Light refreshments and check-in will begin at 9:00 a.m. Our presentation begins at 9:20 a.m. and ends at 10:30 a.m. We hope that you and/or your colleagues will be able to join us for what we are confident will be a useful and informative session. The briefing [...]

Fiscal Policy Institute2024-12-18T12:26:15-05:00February 21st, 2018|Fact Sheets, State Budget|

Ron Deutsch and Jonas Shaende: Analysis of the Governor’s Executive Budget

February 15, 2018. Ron Deutsch, Executive Director of the Fiscal Policy Institute, and Jonas Shaende, Senior Budget & Policy Analyst at the Fiscal Policy Institute, shared their analysis of the Governor’s executive budget and their recommendations for a Shared Opportunity Agenda for New York. Access Podcast Here

Fiscal Policy Institute2024-12-18T12:26:15-05:00February 15th, 2018|FPI in the News, State Budget|

New York State Economic and Fiscal Outlook FY 2019

February 15, 2018. In its 28th annual New York State budget briefing book, the Fiscal Policy Institute analyzes and comments on Governor Andrew Cuomo’s FY 2019 Executive Budget. The Trump Administration’s tax law, looming federal budget cuts, multi-billion-dollar state budget deficits, glaring unmet human and physical infrastructure needs throughout the state...this year’s New York State budget negotiations are taking shape against a worrisome and uncertain backdrop. The president and congress are threatening to dismantle decades-old federal entitlement programs, make drastic cuts to programs that help millions [...]

Fiscal Policy Institute2024-12-18T12:26:15-05:00February 15th, 2018|Blog, State Budget|

Join us for FPI’s FY 2019 Budget Briefing on February 13th

On Tuesday morning, February 13, 2018, the Fiscal Policy Institute will present its 28th annual budget briefing in Meeting Room 7 of the Empire State Plaza Convention Center. A complimentary breakfast and check-in will begin at 8:30 a.m. Our presentation begins at 9:00 a.m. and ends at 10:15 a.m. We hope that you and/or your colleagues will be able to join us for what we are confident will be a useful and informative session. You can RSVP online here. The briefing will examine various aspects of the governor’s Executive [...]

Fiscal Policy Institute2024-12-18T12:26:15-05:00February 12th, 2018|Blog, Tax Policy|

Rally Asks for Higher State Taxes on the Rich

February 6, 2018. In Albany, a group of unions and progressives wants the state to increase taxes on the wealthy, even as Gov. Andrew Cuomo and other state leaders are warning of the consequences of new federal limits on the deductibility of New York’s high state and local taxes. Ron Deutsch, executive director of the labor-backed Fiscal Policy Institute think tank, said the money should be reinvested in education funding, building housing for the homeless and protecting against what he believes are coming cuts to [...]

Fiscal Policy Institute2024-12-18T12:26:15-05:00February 7th, 2018|FPI in the News, Tax Policy|

Progressives Pitch Fair Share Revenue

February 6, 2018. A group of Assembly Democrats and progressive activists see an opportunity for New York in the wake of the new federal tax law. Assemblyman Sean Ryan of Buffalo and Ron Deutsch of the Fiscal Policy Institute join us to talk more about the proposals, and what it would take to pass them. Access Video Here

Fiscal Policy Institute2024-12-18T12:26:15-05:00February 6th, 2018|FPI in the News, Tax Policy|

2018 FPI State Budget Briefing in Albany

On Tuesday morning, February 13, 2018, the Fiscal Policy Institute will present its 28th annual budget briefing in Meeting Room 7 of the Empire State Plaza Convention Center. A complimentary breakfast and check-in will begin at 8:30 a.m. Our presentation begins at 9:00 a.m. and ends at 10:15 a.m. We hope that you and/or your colleagues will be able to join us for what we are confident will be a useful and informative session. You can RSVP online here. The briefing will examine various aspects of the governor’s Executive [...]

Fiscal Policy Institute2024-12-18T12:26:16-05:00January 24th, 2018|Fact Sheets, State Budget|

Cuomo Rails at Tax Bill,  but His Proposals are Modest

January 22, 2018. According to this article, Gov. Andrew Cuomo has been almost apoplectic about the impact of the Republican tax bill on New York. It is a “missile” aimed directly at the state, he bellowed last week while unveiling his budget. But while his bark is loud, his bite is very cautious. The big question is how the politics of the tax bill will play out as Albany seeks to close a budget deficit as large as $6 billion and adjust the state’s tax [...]

Fiscal Policy Institute2024-12-18T12:26:17-05:00January 22nd, 2018|FPI in the News, Tax Policy|

In Cuomo’s Budget Address, What’s Left Out Says as Much as What’s Said

January 18, 2018. According to this article, experts say that Gov. Andrew Cuomo's budget address lacked detail. As he did in the State of the State, the Governor laid out the case that New York is under attack from the new federal tax law, thanks to a controversial $10,000 cap on the state and local tax deduction that will hammer many high-income New Yorkers, yet critics and budget experts alike noted that the governor still didn’t explain how he would carry out all of the [...]

Fiscal Policy Institute2024-12-18T12:26:17-05:00January 18th, 2018|FPI in the News, State Budget|