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.