Tax & Budget

In Albany, Nixon backs tax cap, but has plan to ease override procedure

June 8, 2018. This articles discusses how gubernatorial candidate, Cynthia Nixon, expressed her support for the two percent property tax cap and that overriding it should be easier if residents of a school district want to exceed that cap during an Albany meeting with school superintendents. Multiple organizations, including the Fiscal Policy Institute, weighed in during the meeting about the impact of tax cuts. Before Nixon arrived, superintendents heard from state finance experts Frank Mauro and E.J. McMahon on how the Republican/Trump tax cuts may [...]

2021-01-06T11:50:33-05:00June 11th, 2018|Blog, NYS Tax Policy|

75 New York State Organizations Call on Congress to Oppose Federal Budget Cuts to Critical Programs

FOR IMMEDIATE RELEASE May 10, 2018  Media Contact:  Ron Deutsch, Executive Director of FPI 518-469-6769 / deutsch@fiscalpolicy.org 75 New York State Organizations Call on Congress to Oppose Federal Budget Cuts to Critical Programs Group urges Congress to reject a Farm Bill that takes food off the tables of needy Americans See the release of the letter here (New York, NY) – On May 10, 2018, the New York Federal Budget Response Team submitted a letter on behalf of 75 service providers and advocacy organizations (listed below) asking [...]

Lt. Governor Candidate Williams Lays Out Fiscal Plan

May 3, 2018. Jumaane Williams, the New York City councilman and progressive activist who's seeking to unseat Lt. Gov. Kathy Hochul in September's primary, wants the state to end Gov. Andrew Cuomo's 2 percent spending cap and increase taxes on the rich. Williams suggested a number of new taxes or fees targeting the state's wealthiest residents to generate an estimated $20 billion in new revenue to fund education, transportation, environmental remediation, public housing and health care. The Fiscal Policy has long pushed to increase taxes on [...]

2021-01-06T11:34:21-05:00May 3rd, 2018|FPI in the News, NYS Budget|

Congresswoman Nydia Velázquez Stood Alongside Nonprofits In Opposition To President Trump And Congressional Republicans’ Harmful Cuts To The Social Safety Net

FOR IMMEDIATE RELEASE April 30, 2018  Media Contact:  Ron Deutsch, Executive Director of FPI 518-469-6769 / deutsch@fiscalpolicy.org Congresswoman Nydia Velázquez Stood Alongside Nonprofits In Opposition To President Trump And Congressional Republicans’ Harmful Cuts To The Social Safety Net Group calls on Congress to reject a Farm Bill that takes food off the tables of needy Americans when they return from recess See the full press release here New York, NY. - On April 30, 2018, Congresswoman Nydia Velázquez stood alongside nonprofit service providers on the Steps [...]

2021-01-06T11:29:20-05:00April 30th, 2018|Federal Taxes & Budget Policy, Press releases|

Nixon Opposes Cuomo’s 2% State Spending, Property Tax Caps

April 28, 2018. Newly endorsed Working Families Parties candidate for New York governor, Cynthia Nixon, discusses how the state's two percent spending cap and two percent spending property tax cap causes problems for education and government services. She says that the two percent spending cap shrinks the budget every year, causing major impacts to public education and local governments in the form of budget cuts. Frank Mauro, former executive director of the Fiscal Policy Institute, along with several other organizations, comments that the two percent cap [...]

2021-01-06T11:28:36-05:00April 28th, 2018|FPI in the News, NYS Budget|

Trump Online Store Suddenly Adds Virginia to Short List of States Where it Collects Online Sales Tax

April 10, 2018. The Trump Organization's online store on Monday quietly added Virginia to the list of states in which it collects sales taxes, following reports that the site collects such taxes in just two states. As late as Monday morning, the Trump Organization's official retail site, Trumpstore.com, only identified Louisiana and Florida among the states in which it collects sales taxes. Although the Trump Organization is headquartered in New York, the store does not claim to collect sales taxes in the state. There are [...]

2021-01-06T11:26:07-05:00April 10th, 2018|Federal Taxes & Budget Policy, FPI in the News|

Impact of Cuomo’s Response to Federal Tax Changes is Uncertain

April 5, 2018. New York’s first-in-the-nation response to the new federal tax package and its cap on the deductibility of state and local taxes is now law, but the impact of the measure remains uncertain, experts say. The state budget adopted Saturday includes Gov. Andrew. M. Cuomo’s proposal for a voluntary state payroll tax and the creation of charitable entities aimed at preserving the deductibility of state and local taxes on federal income tax returns. The labor-backed Fiscal Policy Institute credits the governor and legislature [...]

2021-01-06T11:25:35-05:00April 9th, 2018|Federal Taxes & Budget Policy, FPI in the News|

Watchdog Groups Call for More Transparency to Economic Development

March 28, 2018. Good government groups are staying optimistic about getting the  "database of deals" included in the state budget to bring more transparency to economic development. Both one-house budget bills included some form of the database, which would track the companies getting tax breaks or other benefits, the number of jobs expected, and whether key benchmarks are being met. A lot of that information is already available, but only if you know where to look. And MRCH guests argue that the opaqueness of the [...]

As State Budget Deadline Nears, Some Items May Fall off the Table

March 27, 2018. A measure to crack down on sexual harassment in government and the private sector appeared to remain in the 2018-19 budget package on Monday, while several other high-profile initiatives may be put aside and addressed after the April 1 deadline, according to legislative staffers and others close to the budget talks. Also staying in place is a wide-ranging plan to allow employers to increase payroll taxes they pay – which would help employees deal with the new $10,000 limit on federal deductibility [...]

2021-01-06T11:23:23-05:00March 27th, 2018|FPI in the News, NYS 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 [...]

2021-01-06T11:22:38-05:00March 26th, 2018|NYS Budget, NYS 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 [...]

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 [...]

2021-01-06T11:21:05-05:00March 23rd, 2018|FPI in the News, NYS 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 [...]

2018-03-20T12:35:27-04:00March 20th, 2018|Blog, NYS Tax Policy, Tax & Budget|

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.  

2021-01-06T11:20:07-05:00March 14th, 2018|Blog, NYS Tax Policy|
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