FPI CLASSICS
February 12, 2003. Taxes, Government Services and Jobs. A short summary of the academic literature on this subject and a critique of the
New York State and New York City "tax impact" models prepared by the Beacon Hill
Institute for the Heritage Foundation and the Manhattan Institute. (PDF)
February 2, 2002.
Do Tax Increases in New York City Cause a Loss of Jobs? A Review
of the Evidence. Published in
State Tax Notes. (PDF)
IN REVERSE CHRONOLOGICAL ORDER
March 2007.
2007-2008 Budget Materials.
Click here for budget conference committee
reports as well as various FPI materials.
February 28, 2007. 2007-08 Executive
Budget Tackles Corporate Tax Loopholes. Short summaries of the
corporate tax reform measures recommended by Governor Eliot Spitzer as part of
his first Executive Budget.
February 7, 2007.
Balancing New York State's 2007-08 Budget in an
Economically Sensible Manner (PDF). Governor Eliot Spitzer's first executive
budget
is the focus of FPI's seventeenth annual budget briefing: a discussion of
economic and fiscal context for the budget, and an analysis of the extent to
which the budget helps
the state's regions grow together and strengthens and expands the middle class.
See upcoming events for our schedule of budget
presentations.
January 10, 2007.
How to Reduce the Pressure on the Property Tax and Ease the Fiscal Burden on
Struggling Local Governments. The four-point plan supported by FPI:
implement a statewide solution to CFE; increase state's share of Medicaid and
base counties' shares on ability to pay; restore commitment to revenue sharing;
and eliminate the significant disparities in the STAR program. Prepared for the
Center on Governmental Research conference on reforming property taxes in New
York. More
here.
July 7, 2006. State
Policies and Their Impact on Local Property Tax Rates, and a Critique of the
STAR Program (excerpted from FPI's 2006-07 Budget Briefing Book.
(PDF)
***
September 1, 2005.
The "Single Sales Factor" Formula for State
Corporate Taxes: A Boon to New York Economic Development or a Costly Giveaway?
By Michael Mazeroz, Center for Budget and Policy Priorities. First published
March 27, 2001.
June 7,
2005.
Privatization without Competition
equals Huge Losses. By FPI Executive Director Frank Mauro: how New
York State's approach to "contracting out" wastes hundreds of millions of
dollars a year. (PDF)
June 4, 2005.
A little bit of tax history from FPI Executive Director Frank
Mauro: How New York State has Increased the Tax
Burden on the Middle Class while Cutting Taxes for its Highest Income Taxpayers by
Over $8 Billion a Year. (HTML)
May 23, 2005.
The Federal Income Tax Deduction for
State and Local Taxes Paid: A Key Element of American Federalism and a Protection Against
Double Taxation. (HTML)
March 30, 2005.
Vulnerable New Yorkers would lose up to $4.4 billion in federal funding
under House budget plan.
FPI's press
release with New York estimates (HTML), and a
report from the Center on Budget and Policy Priorities
(HTML with links to PDF) with estimates for all 50
states.
Home Values,
Income Levels and Local Taxes in the New York City Metropolitan Area (PDF).
Preliminary estimates of local taxes in 11 communities in the New York City
metropolitan area.
June 2003. Combined Impact of the Federal, New
York State and New York City Income Tax Changes (PDF). In
adopting the 2003-2004 state budget, the New York State Legislature was
able to greatly reduce the local property and sales tax increases and
the service cuts that would have occurred if Governor Pataki's budget
had been adopted as submitted. To a significant degree, this local tax
relief was made possible by the Legislature's adoption of temporary
increases in the state income tax for the 2003, 2004 and 2005 calendar
years. A new top rate of 7.7% was put into place for each of these three
tax years for taxpayers with taxable incomes above $500,000. A lower
temporary rate (7.5% for 2003, 7.375% for 2004 and 7.25% for 2005) was
put into place for married couples with taxable incomes between $150,000
and $500,000 and for individuals with taxable incomes between $100,000
and $500,000. The new 7.7% top rate, which only applies to taxpayers
with taxable incomes above $500,000, is just about half the top state
rate (15.375%) that was in place in the early and mid-1970s. Because
state and local income taxes paid be deducted when calculating federal
income tax liability, the net impact on the affected taxpayers is much
less than the revenue raised by the state. In addition, the federal tax
cuts enacted in both 2001 and 2003 are particularly generous for
taxpayers in these income ranges. The net result is that the combined
impact of the federal, state and New York City income tax changes is a
substantial net reduction in the income tax liability of affected
taxpayers. Without even taking the President's cut in dividend taxes
into consideration, for example, the net annual tax cut for New York
families earning $1 million is over $31,000 for those who live outside
New York City and about $25,000 for those living in the city.
April 24, 2003. Schools, Taxes and the New
York Economy: An Economic Analysis of a Balanced Budget Alternative to
the Governor’s School Aid Cuts. Based on an economic impact analysis prepared for FPI
by the Institute on Taxation and Economic Policy, this report shows that the economic
benefits of restoring the Governor's school aid cuts far outweigh the effects of an income
tax increase to fund those restorations. Press
release from FPI and the Alliance for Quality Education. (PDF)
April 23, 2003. New York
Impact Analysis: Effects of 2004 Congressional Budget Resolution.
A report from the Economic Policy Institute and the Institute
for America's Future. Press release
from FPI and New Yorkers for Fiscal Fairness.
March 3, 2003. FPI's
Testimony at the Legislature's Joint Budget Hearing on Human Services (PDF).
Includes updated tables on TANF block grant spending, minimum wage workers, disposable
income of New York SSI recipients, and each county's public assistance shelter allowance
as a percent of its Fair Market Rent (FMR).
February 12, 2003. Taxes, Government Services and Jobs. A short summary of the academic literature on this subject and a critique of the
New York State and New York City "tax impact" models prepared by the Beacon Hill
Institute for the Heritage Foundation and the Manhattan Institute. (PDF)
February 4,
2003. Balancing New York
State's 2003-2004 Budget in an Economically Sensible Manner.
Despite Governor Pataki’s recent pronouncements regarding the
relationship between jobs and cuts in broad based taxes, the large personal income tax
cuts that New York implemented in 1987, 1988 and 1989 did not innoculate our state from
the emerging national recession. In fact, New York and the rest of the Northeast were hit
particularly hard by that recession - and New York went from positive (but weakening)
employment growth in 1989 to employment declines during each of the next three years.
Now, after almost a decade of major changes in its fiscal policies, New
York State is again confronting significant economic problems and related fiscal crises.
And Governor Pataki, despite his statements about not repeating the failed policies of the
past, is offering a plan for balancing the state’s budget that is very similar to the
budget balancing strategies that were adopted by New York State in the early 1990s. FPI's
February 4 Budget Briefing reviews the roots of New York State's current fiscal problems,
Governor Pataki’s strategy for balancing the 2003-2004 budget, and alternative
approaches to meeting this challenge.
February 26, 2003. FPI's
Testimony at the Legislature's Joint Budget Hearing on Taxes and Economic Development
(PDF).
February 4, 2003.
Balancing New York State's 2003-2004 Budget in an Economically Sensible
Manner (PDF).
Released at FPI's 13th annual budget briefing, this publication presents
FPI's analysis of Governor George E. Pataki's Executive Budget and
alternative approaches to balancing New York State's 2003-2004 budget.
This PowerPoint version of
the briefing book has most of the same charts and graphs but presents
the textual analysis in a condensed format using bullet points.
January 2003. New York State &
Local Taxes in 2002. From the Institute for Taxation and
Economic Policy, this chart and table show the impact of state and local
taxes (by type of tax, in total before taking federal deductibility into
consideration, and in total after taking federal deductibility into
consideration) on the family incomes of non-elderly New Yorkers broken
down into seven income categories, ranging from the bottom 20%
(taxpayers with incomes of less than $15,000) to the top 1% (taxpayers
with incomes above $634,000). (PDF)
January 12, 2003. Meeting New York City's
Fiscal and Economic Challenges in 2003 (PowerPoint). This analysis is based on Mayor Bloomberg's
January 28 Financial Plan for FY 2003 - 2007.
September 26, 2002. New York
State's 2003-04 Budget Outlook.
February 26, 2002. The
Impact of New York State's Personal Income Tax on Low Income Working
Families. Also see the 2002 edition of
the Center for Budget and Policy Priorities annual report, State Income
Tax Burdens on Low-Income Families, released on the same date.
February 2, 2002.
Do Tax Increases in New York City Cause a Loss of Jobs? A Review
of the Evidence. Published in
State Tax Notes. (PDF)
Evaluation of Tax Cut Proposals of U.S. Senate Candidates Rick Lazio and
Hillary Clinton. FPI Executive Director Frank Mauro and Governor Pataki's
Chief Economist, Stephen Kagann, reach some different conclusions in articles that they
each wrote for the Sunday, October 29, 2000, issue of the New York Daily News. To
read what Mauro and Kagann think about the Clinton and Lazio proposals, click here.
