• High Earners Move Out Of New York Less Often Than Working & Middle Class And Do Not Move In Response To Tax Hikes

    A groundbreaking new report from the Fiscal Policy Institute, “Who Is Leaving New York State? Income Trends” reveals for the first time that the richest New Yorkers are far less likely to move out of New York than working and middle-class New Yorkers in normal, non-Covid years. While this pattern temporarily changed during Covid, when all households earning over $170,000 significantly increased their likelihood of moving out of state, migration trends reverted to normal in 2022.

  • Halfway Into Fiscal Year, Tax Receipts Remain Stable — Budget Gaps Likely to Shrink

    The State Comptroller released its September Cash Report today, showing that year to date cash receipts came in over projections but under 2022 levels. Following the cash report release, FPI Executive Director Nathan Gusdorf released the following statement.

  • FPI: August State Cash Receipts Remain Steady for Fourth Straight Month

    The State Comptroller released its August Cash Report Friday, showing that August tax receipts came in over projections and over August 2022 levels. Following the cash report release, Fiscal Policy Institute Executive Director Nathan Gusdorf released the following statements.

  • Breaking Down the Fiscal Impact of City Aid to Migrants

    In August 2023, the City updated its cost estimates for providing shelter and support to asylum seekers, adding $2.33 billion in expected City costs in the current fiscal year (FY24) and $4.1 billion in the next fiscal year (FY25). The 15% PEG announced in September 2023 would result in a $9.6 billion cut in the current fiscal year (FY24) and a $9.7 billion cut in the next fiscal year (FY25).

The Fiscal Policy Institute (FPI) is an independent, nonpartisan, nonprofit research and education organization committed to improving public policy to better the economic and social conditions of all New Yorkers. Founded in 1991, FPI works to create a strong economy in which prosperity is broadly shared.

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