Tax & Budget

Proposal to Recapture High End Federal Tax Cut Windfall

December 20, 2010. In the wake of the historic agreement between the President and the Republican Congressional leadership to extend the Bush tax cuts for the wealthiest, the New York City Council's Progressive Caucus has developed an interesting proposal. The proposal calls for the state of New York to impose a temporary income tax surcharge to recapture for New York the "windfall" high income New York filers will be receiving. Related: an op-ed by Brad Lander, co-chair of the Progressive Caucus.

2024-12-18T12:28:48-05:00December 10th, 2010|Blog, Tax & Budget, Tax Policy|
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The Growing Budget Burden of New York’s Business Tax Expenditures

December 7, 2010. Over $8 billion a year goes to “back door” spending in the name of job creation. This new report from FPI identifies $5.4 billion a year in state government "back door" spending in the name of economic development and job creation. An additional $2.8 billion a year is being drained from New York's local government budgets because of a variety of tax expenditures in state law. In these tough budget times, these billions of dollars in business tax expenditures, which have historically [...]

2025-04-04T14:27:33-04:00December 7th, 2010|Economic Trends & Policy, Press Releases, Reports, Briefs and Presentations, Tax & Budget, Tax Policy|
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Stiglitz calls for a second stimulus at FPI event

October 8, 2010. FPI presented its Frances Perkins Working People's award to Nobel economist Joseph Stiglitz at an event in Manhattan on October 7. In his acceptance remarks, Stiglitz made a strong case for additional economic stimulus to put the country firmly on the road to recovery. A good summary of Stiglitz's remarks by Kathy Brady of the New York City Employment and Training Coalition is available in the October 8 edition of NYCETC's newsletter, the NYC Workforce Weekly. Article >>

2024-12-18T12:28:49-05:00October 8th, 2010|Blog, Economic Outlook, Economic Trends & Policy, Tax & Budget|
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Hundreds of millions at stake for New York’s working families: Current tax debate to determine future of key work-supporting tax credits

September 27, 2010. Low- and moderate-income New Yorkers have a huge stake in the tax debate now going on at the national level: over $600 million annually in work-supporting tax credits. Enhancements to the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) that were made by the American Recovery and Reinvestment Act (ARRA) will expire at the end of 2010 unless extended by Congress. A new report from the Fiscal Policy Institute reviews the workings of these two tax credits, how they [...]

2024-12-18T12:28:49-05:00September 27th, 2010|Press Releases, Reports, Briefs and Presentations, Tax & Budget|
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Federal Tax Policy at a Crossroads

September 21, 2010. This policy brief compares the distributional impacts on New York taxpayers of President Obama's plan and an alternative plan laid our in the Senate Republican leadership bill S.3773 - and looks at the impact of the same two proposals on programs and services. Conclusion? There are five reasons that the Bush tax cuts for the wealthy should be allowed to expire as scheduled, and the modifications of those tax cuts enacted as part of the Recovery Act should be made permanent.

2025-04-04T14:27:33-04:00September 21st, 2010|Reports, Briefs and Presentations, Tax & Budget|
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New York Not-for-Profits Fighting Governor’s Vetoes

July 27, 2010. Governor Paterson's vetoes eliminated funds for the 2010 fiscal year and previous years - funds that had been promised by legislators to not-for-profits for a variety of critical services and needed programs in local communities throughout the state. Albany press conference: FPI's Frank Mauro and Ron Deutsch of New Yorkers for Fiscal Fairness were among the speakers. Sponsored by the New York AIDS Coalition, New York State Catholic Conference, New York State Community Action Association, New York Library Association, New York State [...]

2024-12-18T12:28:51-05:00July 27th, 2010|Blog, Economic Outlook, Economic Trends & Policy, Social Policy, State Budget, Tax & Budget|
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Testimony by David Dyssegaard Kallick: The relationship between immigration and economic growth

June 30, 2010. Senior fellow David Dyssegaard Kallick testified at a public hearing held by the National Commission on Fiscal Responsibility and Reform to hear ideas from members of the public. He testified about the relationship between immigration and economic growth and about the importance of federal support for state and local governments. Read the testimony.

2025-04-04T14:27:34-04:00June 30th, 2010|Migration, Tax & Budget, Testimony|
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Groups Call Upon Schumer and Gillibrand to Restore Medicaid and COBRA Health Insurance Funding

June 8, 2010. This press release from coalition partners highlights FPI's analysis of the impact on New York State and New York City of a 6-month extension of the American Recovery and Reinvestment Act's increased share of state Medicaid costs. The groups also call for extension of ARRA's assistance with COBRA premiums.

2025-04-04T14:27:34-04:00June 8th, 2010|Blog, Healthcare, Social Policy, Tax & Budget|
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New York Shouldn’t Look to Massachusetts as a Model for Property Tax Reform

May 25, 2010. With Governor Cuomo proposing a rigid cap on property taxes based on Massachusetts' Proposition 2½, this 2010 update of a landmark report from the Center on Budget and Policy Priorities should be must reading for New York policymakers. This report describes the problems the cap has created in Massachusetts and explains why the impact could be even more severe in New York. Among the key lessons of the Massachusetts experience: A tax cap won't make government services cost less. Claims that caps [...]

2025-04-04T14:27:35-04:00May 25th, 2010|City Budget, Must Read, Tax & Budget, Testimony|
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New York City: Economic and Budget Challenges

May 20, 2010. While Wall Street may have recovered, the average New York worker is still mired in the Great Recession. New York like most states has severe budget problems and not enough Federal aid; moreover, state and local government budget cuts will harm the local economy and slow the national recovery. In this context, the Mayor's NYC budget proposal punishes workers and the poor but does not ask the well-off or Wall Street to share the burden. This presentation includes commentary on the state as [...]

2024-12-18T12:28:52-05:00May 20th, 2010|Economic Outlook, Economic Trends & Policy, Reports, Briefs and Presentations, State Budget, Tax & Budget|
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