The fiscal strain bearing down on the New York City budget has its origin in policy set by New York State. Policy action by the state is therefore necessary to set the City on solid fiscal ground. Only the Senate’s $2 billion funding plan meets the City’s fiscal needs.
Private health insurance costs in New York have risen dramatically over the past three decades, far outpacing wage growth and inflation. New analysis reveals that unchecked healthcare cost growth has become a major driver of economic inequality and labor market instability across New York.
Private health insurance costs in New York have risen dramatically over the past three decades, far outpacing wage growth and inflation. New analysis reveals that unchecked healthcare cost growth has become a major driver of economic inequality and labor market instability across New York.
Mayor Mamdani’s allegations of prior fiscal mismanagement are substantiated by data showing a significant increase in underbudgeting of spending during the Adams administration.
A recording of FPI's First Look briefing about Executive Budget FY 2027, delivered on January 22, 2026.
A recording of FPI's First Look briefing about Executive Budget FY 2027, delivered on January 22, 2026.
A recording of FPI's briefing in response to the State of the State FY 2027, delivered on January 15, 2026.
New York's public school system, built in the nineteenth century, entitles New Yorkers aged five to twenty-one to free education. More recently, policymakers, including Governor Hochul and Mayor-elect Mamdani, have committed to finishing the project by extending universal education and care to children under the age of five.
The single most decisive factor in whether New York City ends up with a truly universal childcare system is whether that system is supported by sustainable, recurring revenue that grows with the program over time.
New York City Council will likely vote next week on a series of “term sheet bills” that would legislate new rigid restrictions on city-financed affordable housing development and preservation. These bills will drive up the cost of developing new affordable housing in the city and put major obstacles in the way of the incoming Mayor’s affordable housing agenda.
New York State’s Division of the Budget forecasts overestimate the risk of revenue shortfalls but also underestimate the OBBBA impacts, thereby minimizing their impact on the state budget.
New Mexico will remove all income limits for its childcare assistance program, allowing residents of all income levels to receive childcare subsidies. New Mexico’s efforts could provide insight on the scale of investment needed to reach universality in New York.
The OBBBA could threaten one of the signature accomplishments of the ACA: Creating a viable individual insurance market in which middle-class people can purchase high-quality insurance at a reasonable price.
New York State often faces calls for higher tax revenue, whether due to concerns over revenue shortfalls or a desire to increase public spending. This brief assesses the soundness of raising revenue through the Personal Income Tax, examining the fiscal stability of such revenue, fundamental fairness considerations, and responses to common arguments against raising the state income tax.
The New York City Housing Authority (NYCHA) houses over 500,000 New Yorkers and receives a majority of its funding from the federal government, leaving it especially at risk of impending federal budget cuts. New York State must be prepared to fill gaps in both the operating funding and capital funding for NYCHA.