Tax & Budget

Media Roundup: The New Hope Budget Goes On Tour, Stops in Saratoga Springs, Port Jervis, and Binghamton, and Calls for State Reforms

February 21, 2018. The New Hope Budget coalition is a group of advocates across the state calling on lawmakers to adopt a "morally responsible" state budget that addresses the ever-widening gap between the "haves and have-nots." The coalition calls for taxing the wealthy, raising the two percent state spending cap, reducing local property taxes, and campaign finance reform among other socioeconomic issues. The coalition is currently on a 13-stop statewide tour, meeting with community members and state legislatures. This week, the group was in Saratoga Springs, [...]

2021-01-06T09:43:48-05:00February 21st, 2019|FPI in the News, NYS Budget|

New Hope Budget Tour: Coalition Visits Ithaca to Build Support for a Just State Budget

February 21, 2019. Continuing on their 13 stop tour across New York, the New Hope Budget advocates stopped in Ithaca to discuss a state budget that levels the playing field for all New Yorkers. "A budget is a moral document when you think about it. A budget is about priorities," Ron Deutsch, executive director of the Fiscal Policy Institute, said to an audience including Tompkins County legislators and members of various political, labor and religious organizations. Find the article about the stop in Ithaca at the [...]

2021-01-06T09:43:34-05:00February 21st, 2019|FPI in the News, NYS Budget|

Press Release: Patriotic Millionaires and Advocates Call Upon State to Raise Revenues from the Wealthy to Support Critical Services

For Immediate Release: February 12, 2019   Media Contact: Peter Cook, Executive Director, New York State Council of Churches - 508.380.8289 Ron Deutsch, Executive Director, FPI - 518.469.6769 Michael Kink, Executive Director, Strong Economy for All Coalition 518.527.2787 Sam Quigley, Communications Director, Patriotic Millionaires 202.446.0489   Patriotic Millionaires and Advocates Call Upon State to Raise Revenues from the Wealthy to Support Critical Services Albany, NY.  Patriotic Millionaires Chairman Morris Pearl joined numerous organizations from across the state outside the Joint Legislative Hearing on Taxes, to urge [...]

2021-01-06T09:36:32-05:00February 12th, 2019|NYS Budget, Press releases|

New York’s Pathway to Shared Prosperity: Economic and Fiscal Outlook for FY 2020

February 12th, 2019.  The Fiscal Policy Institute released its 29th annual New York State budget briefing book, New York's Pathway to Shared Prosperity: Economic and Fiscal Outlook for FY 2020. FPI's budget briefing book analyzes the Governor's FY 2020 Executive Budget and makes policy recommendations that would benefit all New Yorkers in the areas of taxes, human services, immigration, education, and more.   You can find the sections of the report below: Policy Recommendations Financial Plan and Income Inequality Local Government Economic Development Human [...]

2021-01-06T09:35:30-05:00February 12th, 2019|Blog, NYS Budget|

Support For a Pied-à-Terre Tax in NYC Grows After $240M Penthouse Sale

February 11, 2019. Last month, billionaire Ken Griffith closed on a penthouse at 220 Central Park South for over $239 million, making it the most expensive home ever sold in the United States. Griffin, the founder of the hedge fund Citadel, said he will not use the pricey pad as a primary residence, but instead as “a place to stay when he’s in town.” The staggering sale has renewed support from public officials for a pied-à-terre tax, which would place a yearly surcharge on homes worth $5 million and up, and [...]

2021-01-06T09:34:40-05:00February 11th, 2019|FPI in the News, NYS Tax Policy|

Pied-à-terre Tax Resurfaces Amid 220 Central Park South Purchase

February 6th, 2019. Billionaire Ken Griffin’s record-breaking purchase for $238 million of the penthouse at 220 Central Park South, a super-tall building designed by Robert A.M. Stern in Midtown, is prompting a newfound push for the introduction of a pied-à-terre tax. According to Mark Levine, the council member for District 7 in Manhattan, the tax would be a small surcharge on second homes valued at $5 million or more. Advocates of the tax cite a 2014 report by the Fiscal Policy Institute, which says the proposed tax [...]

2021-01-06T09:35:00-05:00February 6th, 2019|FPI in the News, NYS Tax Policy|

Press Release: Statewide Coalition Urges State Leaders to Adopt New Hope Budget for All of New York

For Immediate Release: December 18, 2018 Media Contacts: Peter Cook, Executive Director, New York State Council of Churches - 508.380.8289 Ron Deutsch, Executive Director, FPI - 518.469.6769 Michael Kink, Executive Director, Strong Economy for All Coalition 518.527.2787 Statewide Coalition Urges State Leaders to Adopt New Hope Budget for All of New York  The New Hope Budget Albany, NY –   Representatives from organizations across the state unveiled a set of principles which address the cries of far too many New Yorkers who have been left behind in [...]

2021-01-06T12:42:48-05:00December 18th, 2018|Blog, NYS Budget|

A Closer Look at the Tax Incentives in the Amazon Deal

November 29, 2018. This article discusses further Amazon's decision to put a corporate campus in Long Island City/Queens after a public year-long search and the subsequent skepticism and outrage that followed the decision. Many activists and elected officials oppose the process by which Amazon got its $3 billion deal, feeling that despite the strong overall city economy with low unemployment, it will undoubtedly impact affordable housing, public housing, and the current transportation crisis. The Fiscal Policy Institute and other advocates weighed in whether it makes sense [...]

2021-01-06T11:16:02-05:00November 29th, 2018|FPI in the News, NYS Tax Policy|

Trump Administration Policy Change Could Cost New York as Many Jobs as Amazon Would Bring, Councilman Says

November 20, 2018. This article discusses the Trump administration's proposed "public charge" rule, which would make it harder for immigrants to obtain legal permanent residency if they currently use or have used specific public benefits. The author makes a comparison between Amazon and the "Public Charge" rule, which is that Amazon plans to bring 25,000 jobs to New York, while according to an FPI analysis, the "public charge" rule would cost New York a 25,000 job loss. The author also highlights the possible "chilling effects" [...]

2021-01-06T12:35:22-05:00November 20th, 2018|Federal Taxes & Budget Policy, FPI in the News|

The Mystery Tax Breaks Bringing Amazon to LIC

November 13, 2018. This article discusses Amazon's interest to possibly split "HQ2" between Long Island City, New York and Arlington, Virginia and the Governor's incentive package with potentially million dollars of subsidies that has not been shared with the public. The author goes on to discuss that many critics, including the Fiscal Policy Institute, do not think that Amazon should get subsidies because they are unfair and that there should be increased transparency. Amazon’s search for a location for its next main office may be coming to [...]

2021-01-06T12:33:18-05:00November 13th, 2018|FPI in the News, NYS Tax Policy|

The Downsides of Property Tax Caps

July 26, 2018. The Center on Budget and Policy Priorities (CBPP) released a report last week about how property tax caps are hampering the abilities of municipalities to fund basic services and are exacerbating inequality. The study focused on the impact of caps in Michigan, Massachusetts, Oregon and New York. In New York, more than three-quarters of cities and half of the counties reported significant fiscal stress due to the the adoption of its tax cap in 2011 and subsequent cuts in state aid. During a [...]

2021-01-06T13:16:21-05:00July 26th, 2018|FPI in the News, NYS Tax Policy|

Brief: New York State’s Continuing Tax Reform: governor’s unincorporated business income tax proposal

July 16, 2018.The State of New York continues to evaluate possible adjustments to its tax system in response to the federal Tax Cuts and Jobs Act of 2017 (TCJA). Governor Cuomo proposed the idea of a statewide unincorporated business income tax (UBT) in early 2018. Perhaps due to the complexity involved, the UBT did not make it into the state budget package along with the other response measures: a payroll tax workaround, decoupling of rules for itemized deductions and other state tax rules from the [...]

2021-01-06T12:15:00-05:00July 20th, 2018|NYS Tax Policy, Testimony|

‘Live From New York’: Saturday Night Live Lands Big Tax Breaks For Filming

July 19, 2018. This articles discusses the significant tax breaks that the long-running show, Saturday Night Live, receives from New York State. New York offers the largest film tax credit program in the nation at $420 million a year. Many state officials feel that the program is very successful because it has led to an influx of shows and movies filming not only in New York City but also across the state, and that without the credit, productions would move to other states. However, critics of [...]

2021-01-06T12:12:54-05:00July 20th, 2018|FPI in the News, NYS Tax Policy|

Interview: Rethinking the Property Tax Cap

July 20, 2018. The Center on Budget and Policy Priorities recently released a new report on property tax restrictions which concluded that state limits on property taxes should be relaxed or repealed because they make it more difficult for localities to provide services. Ron Deutsch, Executive Director of the Fiscal Policy Institute, joins Michael Leachman from the Center on Budget and Policy Priorities on Capital Tonight on Spectrum News in discussing how property taxes are unable to keep up with the rising costs of services [...]

2021-01-06T12:12:32-05:00July 20th, 2018|Blog, NYS Tax Policy|

Cuomo’s $10B Economy ‘Boost’ Results in Broken Promises

July 15, 2018. Since the Governor took office in 2011, the spending for economic development has increased significantly with dubious results. Several projects, which include the $15 Central New York Film Hub outside Syracuse and the Buffalo Billion revitalization plan, among others, have failed considerably and only exposed the major corruption in New York state government. With the outcome of the bid-rigging trial of Alain Kaloyeros hanging over our state government and a failure to pass accountability and transparency legislation during the legislative session, it is suffice [...]

2021-01-06T12:11:42-05:00July 15th, 2018|FPI in the News, NYS Budget|
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