Testimony

Testimony on Governor Paterson’s Proposed 2009-2010 Deficit Reduction Plan

October 21, 2009. Testimony presented by Frank Mauro, Executive Director of FPI, and Ron Deutsch, Executive Director of New Yorkers for Fiscal Fairness, to the Assembly Ways and Means Committee. Mauro and Deutsch discussed why $1.8 billion of the $3 billion in deficit reduction actions proposed by Governor Paterson for the current state fiscal year would harm the still-fragile state economy. The Governor's other $1.2 billion in gap-closing recommendations together with additional actions that will not hurt the state economy should be used to ensure [...]

Fiscal Policy Institute2024-12-18T12:29:07-05:00October 21st, 2009|State Budget, Tax & Budget, Tax Policy, Testimony|

Retail Wages in New York City

June 24, 2009. Testimony before the Bronx Community Board 7's public hearing on the Kingsbridge Armory Project, presented by research associate Michele Mattingly. As New York City leaves behind an economic era characterized by a financial sector distorted by reckless speculation, it is imperative that we rebuild the city economy on the basis of good, family-supporting jobs that create and sustain the middle-class.

Fiscal Policy Institute2025-04-04T14:27:42-04:00June 24th, 2009|Economic Outlook, Economic Trends & Policy, Testimony|

Testimony before the Senate Select Committee on Budget and Tax Reform

May 21, 2009. Presented by chief economist James Parrott at the committee's public hearing on New York State's business tax reform. New York could have a more rational and fairer business tax system by adopting a rule to fix problems with the way multi-state corporate income is apportioned, by revamping its overly generous Investment Tax Credit, and by adjusting its taxation of unincorporated businesses. Testimony >>

Fiscal Policy Institute2025-04-04T14:27:42-04:00May 21st, 2009|Tax & Budget, Tax Policy, Testimony|

Outsourcing Public Services to the Private Sector

May 7, 2009. Testimony before the New York City Council Committee on Civil Service and Labor and Committee on Contracts. "Contracting in" offers budget savings and efficiency while promoting better quality jobs for New Yorkers. To pursue these goals, the Council should consider reforms to the contracting process and decision-making.

Fiscal Policy Institute2024-12-18T12:29:09-05:00May 7th, 2009|State Budget, Tax & Budget, Testimony|

The Economic Situation of New York City’s Low- and Moderate-Income Households

April 30, 2009. Testimony presented by chief economist James Parrott to the Rent Guidelines Board. Three points: this is the worst recession since the Great Depression with sharply higher unemployment; inflation-adjusted wages and incomes are falling for most New York families; and housing costs are placing an enormous burden on New York City working families.

Fiscal Policy Institute2024-12-18T12:29:09-05:00April 30th, 2009|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Testimony|

Exploring progressive changes to New York State’s personal income tax system

March 12, 2009. This testimony, presented by FPI executive director Frank Mauro to the New York State Senate Select Committee on Budget and Tax Reform, includes a discussion of the Omnibus Tax Reform Bill. The goal of the bill: to restore fairness to taxation with both short term relief and long term solutions.

Fiscal Policy Institute2025-04-04T14:27:43-04:00March 12th, 2009|City Budget, Tax & Budget, Tax Policy, Testimony|

Improving Industrial Development Agencies (IDAs)

March 4, 2009. Testimony before the NYS Assembly Standing Committee on Local Governments Public Hearing on Industrial Development Agencies, submitted by FPI executive director Frank Mauro. There is room for improvement in six areas: The usefulness of IDA hearings, Reporting on costs and benefits of IDA-supported projects, Ensuring that IDA benefits don't go to firms that break environmental, safety or other state laws, Coordination with all local governments affected by IDA decisions, Transmission and recording of PILOT payments to the local governments on whose behalf [...]

Fiscal Policy Institute2024-12-18T12:29:09-05:00March 4th, 2009|Economic Trends & Policy, Testimony|

Testimony on the 2009-2010 Executive Budget – Workforce Issues

February 4, 2009. Testimony presented by FPI executive director Frank Mauro to the Senate Finance and Assembly Ways and Means Committees. The Executive Budget contains many proposals that will directly and indirectly cut jobs, exacerbating the recession in the state economy. There are other ways to close budget gaps - notably, an increase in high-end income taxes - that would do much less harm to the economy.

Fiscal Policy Institute2024-12-18T12:29:10-05:00February 4th, 2009|Economic Outlook, Economic Trends & Policy, State Budget, Tax & Budget, Tax Policy, Testimony|

Testimony before the Assembly Ways and Means Committee hearing on the impact of the economic crisis on the state budget

November 13, 2008. Testimony submitted by FPI's Frank Mauro and Ronald Deutsch of New Yorkers for Fiscal Fairness. To avoid deepening the already threatening recession, the state must not rely solely on drastic cuts in state spending to close current and expected budget gaps. A balanced approach includes tapping the state's tax stabilization reserve fund (put together for this very purpose), surgical cuts in wasteful spending, and a high-end income tax surcharge like that used successfully in 2003 to close post-9/11 gaps.

Fiscal Policy Institute2024-12-18T12:29:11-05:00November 13th, 2008|Economic Outlook, Economic Trends & Policy, State Budget, Tax & Budget, Tax Policy, Testimony|

Maximizing the Value and Use of State Assets

November 6, 2008. Testimony of James A. Parrott before the New York State Commission on State Asset Maximization. To fulfill the commission's charge to "maximize the value and use of state assets," the state should carefully consider in-house design and prevailing wage standards when setting up new projects. Also, economic development subsidies should include strict accountability standards; the state should not act as project investor without receiving in return an ownership stake for the taxpayers.

Fiscal Policy Institute2024-12-18T12:29:11-05:00November 6th, 2008|Economic Trends & Policy, State Budget, Tax & Budget, Testimony|

Testimony on MTA Financing

September 15, 2008. Testimony of James A. Parrott before the New York State Commission on MTA Financing. Albany will have to make some tough choices to align the MTA's recurring spending needs with recurring revenues. It will not be easy to do this during a downturn, but it is imperative that the State and the City put in place a phased-in approach that stabilizes MTA finances for the long term.

Fiscal Policy Institute2024-12-18T12:29:12-05:00September 15th, 2008|State Budget, Tax & Budget, Testimony|

Testimony on Proposed Legislation Addressing Real Property Taxation Issues

June 2, 2008. Presented by FPI Executive Director Frank Mauro to the Senate Standing Committee on Local Government and Assembly Standing Committee on Real Property Taxation. The Middle Class STAR rebate program is better targeted than the original STAR program in that in takes income into consideration. However, Middle Class STAR is still not efficient and equitable property tax relief, since it does not take the size of a homeowner's property tax bill into consideration and it is still based on county and school district [...]

Fiscal Policy Institute2025-04-04T14:27:45-04:00June 2nd, 2008|City Budget, Tax & Budget, Testimony|

The Economic Situation of New York City’s Low- and Moderate-Income Households

May 2, 2008. Testimony presented by chief economist James Parrott to the Rent Guidelines Board: a picture of a shallow recovery, high housing cost burdens and a shrinking middle class - plus a local economy in recession.

Fiscal Policy Institute2024-12-18T12:29:15-05:00May 2nd, 2008|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Testimony|

The Cost of Affordable Housing Construction in New York City

February 14, 2008. Testimony presented by FPI chief economist James Parrott to the Assembly Committee on Housing. Significant fiscal costs arise from the rampant practice in affordable housing construction of illegally misclassifying workers as independent contractors or off the books. Also, paying prevailing wage can actually decrease costs, by attracting more productive workers. Testimony >>

Fiscal Policy Institute2024-12-18T12:29:27-05:00February 14th, 2008|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Testimony|

Testimony on the 2008-2009 Executive Budget – Economic Development and Taxes

February 11, 2008. Testimony submitted by FPI executive director Frank Mauro to the Senate Finance and Assembly Ways and Means committees. Given the many signs that we are in a recession, state leaders must be especially careful about the way they close the state budget gap. Some gap-closing strategies could actually exacerbate the downturn.

Fiscal Policy Institute2024-12-18T12:29:27-05:00February 11th, 2008|Economic Outlook, Economic Trends & Policy, State Budget, Tax & Budget, Tax Policy, Testimony|