Press Releases

Fiscal Policy Institute Staff Join Mamdani Administration Transition Committees

NEW YORK, NY | The Fiscal Policy Institute today announced that three senior staff members have been appointed to the transition committees for the incoming Zohran Mamdani administration. The FPI staff joining the incoming Zohran Mamdani administration’s transition committees are: Executive Director Nathan Gusdorf, who will bring expertise in tax law and budgetary policy to the Committee on Government Operations; Chief Economist Emily Eisner, a specialist in macroeconomics and public finance, who joins the Committee on Housing; and Director of Health Policy Michael Kinnucan, an [...]

Fiscal Policy Institute2025-11-24T18:56:47-05:00November 24th, 2025|Press Releases|

New Data Show Rising Inequality, Strong Wage Growth for Top Earners

New data released this morning show that inequality is rising in New York, with income gains for the state’s richest residents driving statewide wage growth well above the national average.

Nathan Gusdorf2025-09-11T11:14:41-04:00September 11th, 2025|Economic Outlook, Economic Trends & Policy, Press Releases|

Siena Poll Spreads Misinformation About Medicaid Funding for Immigrants

Pollster used discredited Republican talking points on OBBBA

Michael Kinnucan2025-10-10T13:52:26-04:00August 19th, 2025|Featured on Home, Healthcare, Press Releases, State Budget|

Statement on Fiscal Year 2026 Executive Budget

Governor Hochul today released her executive budget for fiscal year 2026, which reflects an overdue recognition of the State’s strong fiscal position and capacity for making new public investments in order to ease cost of living pressures for working New Yorkers.

Fiscal Policy Institute2025-01-21T21:28:50-05:00January 21st, 2025|Press Releases, State Budget|

Statement on 2025 State of the State

The governor's policy agenda lacks a strategy for structural reforms to lower the cost of living

Fiscal Policy Institute2025-01-14T16:08:44-05:00January 14th, 2025|Press Releases, State Budget|

Statement on Climate Change Superfund Act

The Superfund is a fiscally sound mechanism for upgrading our statewide infrastructure in the face of urgent climate challenges, and FPI commends the governor and legislature for successfully working together to enact it.

Fiscal Policy Institute2024-12-26T15:11:22-05:00December 26th, 2024|Climate, Press Releases, Tax Policy|

Statement on First Quarterly Update to FY 2025 Budget

The First Quarterly Update to the State’s financial plan indicates the State remains on strong fiscal footing, with modestly higher revenue than projected in the Enacted Budget financial plan and lower spending than expected. Measured as a share of total state personal income, State spending is set to fall, and is on par with its fiscal year 2016 level.

Fiscal Policy Institute2024-12-26T16:43:07-05:00July 24th, 2024|Financial Plans & Cash Reports, Press Releases|

Statement on New York City Budget Agreement

Governor Hochul’s directive to the MTA to 'indefinitely pause' planned congestion pricing for New York City, and her proposed alternative revenue sources, are ill-advised tax and economic policy.

Fiscal Policy Institute2024-12-20T00:32:42-05:00July 1st, 2024|City Budget, Featured on Home, Press Releases, Tax & Budget|

Temporary MTA Funding Plan Jeopardizes New York’s Fiscal Future

Governor Hochul’s directive to the MTA to 'indefinitely pause' planned congestion pricing for New York City, and her proposed alternative revenue sources, are ill-advised tax and economic policy.

Fiscal Policy Institute2024-12-26T16:43:50-05:00June 7th, 2024|Featured on Home, Press Releases, State Budget|

Who is Leaving New York State? Part II: Social Characteristics

The Fiscal Policy Institute today released a new report in its state migration series, "Who Is Leaving New York State? Social and Labor Characteristics", which finds that affordability — and in particular housing and the cost of raising a family — are increasingly driving State population loss.

Fiscal Policy Institute2024-12-19T23:49:43-05:00June 3rd, 2024|Featured on Home, Migration, Must Read, Press Releases, Reports, Briefs and Presentations|

Enacted Budget Financial Plan Shows Healthy Fiscal Outlook

The fiscal year 2025 enacted budget totals $237 billion, an inflation-adjusted decline of 0.4 percent from fiscal year’s 2024 total budget. In non-inflation-adjusted terms (nominal dollars) this represents an increase from fiscal year 2024’s total budget of $231.6 billion.

Fiscal Policy Institute2024-12-26T16:44:42-05:00May 28th, 2024|Financial Plans & Cash Reports, Policy & Research, Press Releases, Reports, Briefs and Presentations, State Budget, Tax & Budget|

FPI on NYC FY25 Executive Budget: Real Revenue Not Aligned with City’s Pessimistic Forecasts

Under the fiscal year 2025 executive budget, inflation-adjusted state funding would fall for a third consecutive year. While State spending rose in response to Covid, it will return to its pre-Covid trend by fiscal year 2025.

Fiscal Policy Institute2024-12-26T11:50:55-05:00April 24th, 2024|City Budget, Press Releases, State Budget|

FPI on Housing, Healthcare, Education & Climate in FY 2025 Enacted Budget

Under the fiscal year 2025 executive budget, inflation-adjusted state funding would fall for a third consecutive year. While State spending rose in response to Covid, it will return to its pre-Covid trend by fiscal year 2025.

Fiscal Policy Institute2024-12-20T00:29:50-05:00April 20th, 2024|Featured on Home, Press Releases, State Budget|

Modest Budget Fails to Make Investments Needed to Address Affordability Crisis & Stem Population Loss

Under the fiscal year 2025 executive budget, inflation-adjusted state funding would fall for a third consecutive year. While State spending rose in response to Covid, it will return to its pre-Covid trend by fiscal year 2025.

Fiscal Policy Institute2024-12-26T11:51:45-05:00April 18th, 2024|Press Releases, State Budget|

One-House Budgets Wisely Raise Taxes On Wealthiest New Yorkers — But Only Temporarily

In light of New York’s affordability crisis and the need for deeper State investments to lower the cost of living, the one-house budgets wisely invest in affordable housing, healthcare, and higher education. Additionally, the legislature sensibly rejects the Governor’s proposed cuts to public schools and home care worker wages.

Fiscal Policy Institute2024-12-19T09:19:57-05:00March 12th, 2024|Featured on Home, Press Releases|