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New York State's tax receipts in January totaled $11.4 billion—outperforming Governor Cuomo's projections for the month by $1.7 billion, or 17 percent, according to the monthly cash report issued late today by state Comptroller Thomas DiNapoli. Read More

State tax receipts in the month of December came in $1.4 billion above the latest projection by Governor Cuomo's Division of the Budget (DOB), according to a cash report released late today by state Comptroller Thomas DiNapoli's office. on the nu Read More

State of the State messages by New York governors customarily lay out general goals and priorities, rather than specifics. Even in general terms, however, there is a striking contrast between Governor Cuomo's latest State of the State and his first annual message to the Legislature, which he delivered five days after taking office 10 years ago. Read More

Hoping to jumpstart a bandwagon effect, advocates of soak-the-rich tax hike proposals in New York State are hyping a tax increase in New Jersey as evidence that New York needs to do the same. Read More

"State's Financial Hole Deepens" is the headline on Comptroller Thomas DiNapoli's press release accompanying the August cash flow report. Read More

Federal income taxes paid by New Yorkers decreased by nearly $3.4 billion in 2018, the first year of the new federal Tax Cuts and Jobs Act (TCJA), according to newly released Internal Revenue Service data. Read More

New York State's fiscal outlook is easily the worst since the Great Depression—but that hasn't stopped Governor Cuomo from inflating the state's already awful budget numbers. Read More

#NYCoronavirus: New York State United Teachers (NYSUT) has a $1 trillion list of federal stimulus funding proposals—with specifics that illustrate both the union’s thirst for taxpayer money and its desire to influence public policy well beyond the classroom walls. Read More

#NYCoronavirus: With this year's tax return filing date push postponed to mid-July in response to the coronavirus pandemic, Governor Cuomo has revived his old complaints about the TCJA's $10,000 cap on itemized state and local tax (SALT) deductions. But under the circumstances—a crashing economy and exploding federal deficits—his case for restoring SALT is even weaker than it was before the crisis. Indeed, it verges on preposterous. Read More

Budget deficit? What budget deficit? With today’s pending recommendation from the Board of Regents, New York's education establishment is united in proposing that state aid to America's best-funded preK-12 public school system be increased next year by at least $2 billion. The figure is nearly double the amount projected in Governor Cuomo's financial plan—which showed the state is running deeply in the red and facing its largest budget shortfall since the Great Recession. Read More

Newly released federal data on personal income growth last year point to the continued economic weakness of upstate New York. Measured in current dollars, unadjusted for inflation, personal income nationally increased 5.6 percent from 2017 to 2018, according to the Bureau of Economic Affairs (BEA). Read More

In what could rank among the least surprising federal court rulings of this or any year, a U.S. District Court judge in Manhattan has rejected New York's constitutional challenge to the state and local tax (SALT) deduction cap in the new federal tax law. Read More