At a hearing in Albany last week, New York City Mayor Zohran Mamdani lobbied state lawmakers to help him balance the city's finances with a two-percentage-point hike in the city's income tax on people making over $1 mi Read More
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The likely impact of federal health-care cutbacks has diminished in recent days as House Republican leaders backed away from some of their bigger-ticket proposals, reducing the estimated savings to $625 billion from previous figures of $715 billion a Read More
Average daily office occupancy in New York City has bounced back from 2020-21 lows, but by most accounts remains well below pre-pandemic norms. Read More
A “skinny” version of the massive “Build Back Better” legislation proposed last year by President Biden is slated to arrive on his desk shortly. Read More
New York was a net loser of income tax filers to other states even in the five years leading up to the pandemic disruption of 2020 Read More
New York's share of the nation's income millionaire households continued to fall in 2019 Read More
Remote work and a more mobile professional class will increase the speed and scope of New York's ongoing out migration. Read More
Today was the (rescheduled) deadline for filing 2020 federal income tax returns, which makes this New York's third annual SALT-Free Income Tax Day. By midnight tonight, most Empire State residents will have been remind Read More
New York has been trailing most states in the race to recover from the economically devastating coronavirus pandemic, recent employment data have shown. Read More
Looking ahead to an uncertain post-pandemic recovery, New York’s newly enacted state budget for fiscal year 2022 raises spending by staggering amounts that—barring an unlikely rapid return to peak 2019 economic activity in New York City—can't possibly be sustained for more than a few years. The budget is a mid-2020s fiscal disaster in the making: an incomplete bridge over a deepening river of red ink. Read More
Tax proposals embraced by Democrats represent a sizable increase in a top rate that already stands at an all-time record high. Read More
With two weeks to go before the start of New York State's 2022 fiscal year, Democratic majorities in the Assembly and Senate have staked out similar budget priorities calling for the biggest spending hikes on record wh Read More