Fiscal Policy Institute - State Budget 2012-2013

 

 

 

The 2012-2013 New York State Budget


For FPI analysis and commentary on state budgets for previous fiscal years, please see the
Budget Archive. For upcoming opportunities to learn more about the budget, please see our events and trainings page.
 

FPI's briefing on the 2011-2012 executive budget

January 31, 2012.  New York State's Economic and Fiscal Outlook for 2012-2013. The Fiscal Policy Institute's 22nd annual budget briefing.

Other FPI analysis and commentary: 2012-2013 budget

February 6, 2012.  Testimony of Frank Mauro, Executive Director of the Fiscal Policy Institute, presented to the Senate Finance and Assembly Ways & Means Committees' Public Hearing on the 2012-2013 Executive Budget.

January 31, 2012.  National tax expert calls for closing New York State Tax loopholes. Lawmakers, tax experts and advocates gathered to urge that corporate tax loopholes be closed, pointing to a recent report from Citizens for Tax Justice and the Institute on Taxation and Economic Policy, Corporate Tax Dodging In the 50 States, 2008-2010, which reveals glaring inequities in the way that businesses are taxed (or not taxed). Working from the principles of enforcement, fairness, and transparency, the their taxes, reforming the state’s Corporate Alternate Minimum Tax, taxing nonresident hedge fund management fees, eliminating New York City’s carried interest exemption, cracking down on schemes that create "nowhere income," and requiring public disclosure of corporate tax payments for publicly-traded companies. Release>>  Report>>

January 19, 2012.  Sizing up the Governor's Proposed 2012-2013 Executive Budget in its Economic Context. A briefing document by James A. Parrott, Ph.D., Deputy Director and Chief Economist, Fiscal Policy Institute.

January 9, 2012.  Coalition calls on Governor and Legislature to close corporate tax loopholes and level the playing field for small business. A coalition of community, labor, student, faith and Occupy organizations gathered to release a list of corporate tax dodgers and to announce their campaign to bring fairness and transparency to New York's corporate tax system. The group, which formed last year to work on the "millionaires tax" and personal income tax reform, is calling on Governor Cuomo and the Legislature to close corporate tax loopholes, thereby raising over one billion dollars for this year's state budget. The additional revenue will help New York to create jobs, create a fairer environment for small business, and prevent devastating budget cuts. Release>>

December 5, 2011.  Reforming the New York Tax Code. Consistent with Governor Cuomo's call for a tax system that is fairer and more affordable while helping to put more New Yorkers back to work, this report presents a "top 1%" progressive income tax plan. The plan raises less revenue than the current "millionaires tax," but enough revenue to avoid job-killing budget cuts, make job-creating investments, and provide middle class tax relief. The proposed progressive bracket structure would apply to taxpayers with incomes above $665,000, the estimated threshold for the top one percent in the current New York economy. Taxpayers with taxable incomes up to $5 million would pay less than they pay now under the temporary surcharges scheduled to expire at the end of 2011.

 

 

For FPI analysis and commentary on state budgets for previous fiscal years, please see the Budget Archive.

 


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