FOR IMMEDIATE RELEASE: February 23, 2020
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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 state budget is truly historic. New Yorkers are relying on a plan that will keep them afloat and set a course for rebuilding our economy in the midst of a pandemic. The state absolutely requires the federal government’s assistance to navigate the full scope of COVID-19’s health and fiscal challenges. But more than immediate relief is needed.
As we work on identifying practical solutions for the short term, our longer-term goals should include creating a more just tax structure, reducing our state’s monumental wage gap, and ensuring that every child receives a quality, public education. The state has a responsibility to provide cash-strapped local governments, schools, small businesses, and social programs the necessary support for stable communities and to build a firm foundation for the future. There is no single solution or easy answer. This crisis requires bold vision and the willingness to examine both corporate and individual tax policies.”
FPI’s budget testimony is available on our website.
The Fiscal Policy Institute is a nonpartisan, nonprofit research and education organization committed to improving public policies and private practices to better the economic and social conditions of all.