Press Releases

July Cash Receipts Remain Steady for Third Straight Month

Three months of strong tax receipts confirm State economy remains robust & align with improving economic forecasts ALBANY, NY | August 16, 2023 — The State Comptroller released its July Cash Report today, showing that July tax receipts came in over projections and over July 2022 levels:July 2023 receipts: $7.75 billionJuly 2023 projections: $6.87 billionJuly 2022 receipts: $6.97 billionFollowing the cash report release, Fiscal Policy Institute Executive Director Nathan Gusdorf released the following statements: What the cash [...]

Fiscal Policy Institute2024-12-23T11:21:04-05:00August 16th, 2023|Financial Plans & Cash Reports, Press Releases|

June Cash Receipts Continue to Stabilize Following April Volatility

The New York State Comptroller's June cash basis report shows that tax receipts for the month of June have stabilized after a shortfall in April. The stable June receipts confirm that New York’s tax base and economy remain strong, and that shortfalls in April reflected weaker-than-expected capital gains in tax year 2022 rather than an imminent downturn.

Fiscal Policy Institute2024-12-18T12:24:13-05:00July 14th, 2023|Financial Plans & Cash Reports, Press Releases|

May Cash Receipts Begin to Stabilize Following April Volatility

Following the release of the State Comptroller's May Cash Report yesterday, Fiscal Policy Institute Executive Director Nathan Gusdorf today released the following statements: "The New York State Comptroller's May cash basis report shows that total tax receipts for fiscal year 2024 to date are 3.4 percent over the projections in the Enacted Budget financial plan, with Personal Income Tax receipts to date exceeding such projections by 5.5 percent."

Fiscal Policy Institute2024-12-18T12:24:14-05:00June 16th, 2023|Financial Plans & Cash Reports, Press Releases|

Statement on FY 2024 Budget

Budget relies on temporary tax rates for corporations and highest earners — state's long-term fiscal stability would be better served by making tax rates permanent. Failure to address high cost of living will continue to drive working & middle-class New Yorkers out of state — and undermine statewide economic growth.

2024-12-18T12:24:14-05:00May 2nd, 2023|Press Releases, State Budget|

Revenue Analysis: One House Budget Tax Proposals

Following the release of the State Senate and Assembly Budget Proposals, the Fiscal Policy Institute today released annual revenue estimates for the Personal Income Tax, Corporate Tax, and Corporate Tax Surcharge proposals.

Fiscal Policy Institute2024-12-26T17:00:32-05:00March 16th, 2023|Press Releases, State Budget, Tax Policy|

FPI Statement on FY 2024 Executive Budget

FOR IMMEDIATE RELEASE: February 1, 2023 Media Contact: press@fiscalpolicy.org FPI Statement on FY 2024 Executive Budget "As we head into a possible recession, it is essential to invest in the public services that stabilize the quality of life and the cost of living for working New Yorkers" ALBANY, NY | February 1, 2023 — Fiscal Policy Institute Executive Director Nathan Gusdorf today issued the following statement: “While Governor Hochul’s budget recognizes the importance of [...]

Fiscal Policy Institute2024-12-19T09:20:00-05:00February 2nd, 2023|Press Releases, State Budget, Tax Policy|

Fiscal Policy Institute on State of the State

In response to Governor Kathy Hochul’s 2023 State of the State, Fiscal Policy Institute Executive Director Nathan Gusdorf today issued the following statement: “In her State of the State, Governor Kathy Hochul laid out a wide-ranging agenda that identified many of the crises facing New Yorkers — but was silent on the need for new revenue. The Governor cannot deliver on an agenda to expand affordable housing and healthcare, strengthen our schools, and transition our state to a green economy without new funding. There is no credible vision to rebuild New York after Covid without new revenue."

Fiscal Policy Institute2024-12-18T12:24:16-05:00January 10th, 2023|Press Releases, State Budget, Tax Policy|

FPI Statement on New NYS Labor Data and Comptroller DiNapoli’s Labor Force Report

Nathan Gusdorf, Executive Director of the Fiscal Policy Institute, today released the following statement: “Recent data released by the Bureau of Labor Statistics today reveal New York State added 456,000 jobs from June 2021 to June 2022, which represents a 5.1% annual increase — making New York the fifth fastest growing job market in the United States."

Fiscal Policy Institute2025-04-04T14:27:18-04:00November 30th, 2022|Economic Outlook, Labor Market & Workforce, Press Releases|

October Cash Basis Report shows higher than expected Personal Income Tax receipts

The New York State Comptroller this week released its October 2022 cash basis report, which documents recent trends in state spending and revenue.

Fiscal Policy Institute2025-04-04T14:27:19-04:00November 22nd, 2022|Financial Plans & Cash Reports, Press Releases|

Domestic Workers in New York: By the Numbers

FOR IMMEDIATE RELEASE: April 12, 2021 Contact: Shamier Settle, ssettle@fiscalpolicy.org, 347-834-5760 Domestic Workers are Essential Workers: By the Numbers in New York Domestic Workers are Essential to our Economy and will be highlighted in Biden Infrastructure Plan Read the report: “Domestic Workers are Essential Workers: By the Numbers in New York” (Albany, NY) –Domestic workers are doing the intense and intimate labor of caring for our families and our households. As the fallout of the global pandemic has made clear, they are essential to our [...]

Fiscal Policy Institute2025-04-04T14:27:20-04:00April 12th, 2021|Migration, Press Releases|

“Legislature Supports $2.1 Billion in Aid to Excluded Workers; Report Shows $3.5 is Needed”

FOR IMMEDIATE RELEASE: March 18, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 “Legislature Supports $2.1 Billion in Aid to Excluded Workers; Report Shows $3.5 is Needed” Read FPI’s report: Unemployment Compensation for Excluded Workers: $3.5 Billion Needed for 2020 and 2021 (Albany, NY) – New York State may be on the brink of providing unemployment benefits to workers who are currently excluded from the state’s unemployment insurance fund. The New York State Assembly and Senate both support a fund of $2.1 billion to extend benefits to undocumented [...]

Fiscal Policy Institute2025-04-04T14:27:21-04:00March 17th, 2021|Migration, Press Releases, State Budget, Tax & Budget, Tax Policy|

Fiscal Policy Institute on One-House Budgets

FOR IMMEDIATE RELEASE: March 15, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Fiscal Policy Institute on One-House Budgets (Albany, NY) Today the New York State Senate and Assembly released their one-house budgets as New York continues grappling with the pandemic. With the annual April 1st deadline fast approaching, today’s action sustains hope for a responsive budget process that can meet all New Yorkers’ needs. The Legislature’s proposals recognize the need for support to ensure all New Yorkers can live, work, access health care, and receive a sound education. With [...]

Fiscal Policy Institute2025-04-04T14:27:22-04:00March 15th, 2021|Press Releases, State Budget, Tax & Budget, Tax Policy|

FPI Testifies Before Join Legislative Budget Hearing on Taxes

FOR IMMEDIATE RELEASE: February 23, 2020 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Fiscal Policy Institute's Recommendations for the FY 2022 State Budget (Albany, NY) Today the Fiscal Policy Institute (FPI) testified before the Joint Legislative Budget Hearing on taxes. FPI urges a bold vision in crafting the FY 2022 state budget, recommending progressive tax policies so that all New Yorkers can grow, prosper, and build a foundation for the future. The video replaces FPI's annual in-person budget presentation. Statement from Dr. Jonas Shaende, Chief Economist: “This year’s [...]

Fiscal Policy Institute2025-04-04T14:27:23-04:00February 24th, 2021|Press Releases, State Budget, Tax & Budget|

New York’s Pandemic State Budget: Recovering and Reimagining

FOR IMMEDIATE RELEASE: February 10, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 ***VIDEO link below*** New York's Pandemic State Budget: Recovering and Reimagining Fiscal Policy Institute's Recommendations for the FY 2022 State Budget Read the report: "Economic and Fiscal Outlook 2022: New York Recovering and Reimagining" Watch the video: Fiscal Policy Institute's Annual State Budget Presentation 2021 (Albany, NY) Today the Fiscal Policy Institute (FPI) released a 30-minute video highlighting its report "New York State's Pandemic Budget: Recovering and Reimagining." FPI urges a bold vision in crafting the FY [...]

Fiscal Policy Institute2025-04-04T14:27:23-04:00February 9th, 2021|Must Read, Press Releases, Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

Concrete Gains for New Yorkers from Federal Immigration Proposal

FOR IMMEDIATE RELEASE: February 1, 2021 Media Contact: communications@fiscalpolicy.org, 518-786-3156 Concrete Gains for New Yorkers from Federal Immigration Proposal Removing Barriers for Immigrants Boosts Earnings and Tax Revenue Read the report: A Pathway to Citizenship: Doing Well by Doing Good (Albany, NY) A new report by the Fiscal Policy Institute (FPI) in conjunction with the Institute for Taxation and Economic Policy (ITEP) shows the ways New York State would benefit if undocumented immigrants could gain work authorization and apply for citizenship, as is being proposed [...]

Fiscal Policy Institute2025-04-04T14:27:24-04:00February 1st, 2021|Migration, Press Releases|