New York State is dealing with a pandemic that demands sudden and unusual changes in our everyday lives. The need for societal change including social distancing and restricting public gatherings to protect our health is clear. The question is what will be the economic cost of our necessary public health policy and how will we pay for it?
Explore these pressing issues with us in our new brief:
At the time of this writing, our state is trying to reach the short-term goal of sufficiently “flattening the curve” of infection to keep hospitalization rates within our state’s healthcare capacity. That is paramount now. What is not clear is the inevitable economic fallout. While it might seem counterintuitive at this time, substantial new revenue options must invariably be considered. Recognizing the challenges New York must face, the Fiscal Policy Institute, advanced a set of progressive revenue options earlier this year (Fiscal Policy Institute, 2020) that are still relevant now as the state’s challenges have grown, together with its revenue needs.
Read the brief here.