Blog

The latest wrinkles in Governor Andrew Cuomo’s green energy policy, as outlined yesterday in his third State of the State message, include a “cabinet level energy czar” recruited from the Obama administration. Read More

Governor Cuomo’s office has issued a press release boasting that the state Department of Financial Services has turned down $500 million in proposed private health insurance premium increases. But here’s the thing: New York State is also imposing more than $4 billion a year in taxes and assessments on private health insurance, mainly to subsidize Medicaid and other public insurance programs through the Health Care Reform Act (HCRA) budget. Read More

Senate Majority Dean Skelos today said that “enacting a stronger, permanent Kendra’s Law must be a priority for the 2013 session, and should be included in any legislative agreement on gun safety” as part of New York’s response to the mass murder in Newtown, Ct. (not to mention New York City’s recent subway-shoving incidents). Read More

For taxpayers in New York State’s top personal income tax bracket, the new federal tax law will drive the combined federal and state marginal tax rate to within a percentage point of 50 percent, its highest level in 27 years. Read More

The just-enacted federal tax increase will fall heavily on high-income New Yorkers – but will take a much smaller bite out of the Empire State’s tax base than President Barack Obama had been seeking... Read More

New York State and Erie County officials today reportedly will join in announcing that the Buffalo Bills have signed a 10-year renewal of their stadium lease, and that team owners have agreed to pay a $400 million penalty if they move out of Buffalo before the lease expires. Read More

For a second time, Governor Cuomo has vetoed a bill that would require the state to reimburse New York City for retiree health benefits paid to former employees of the bankrupt New York City Off-Track Betting Corp. (OTB). That’s good. Unfortunately, once again, he has left the door open to signing the bill in the future. And that’s troubling. Read More

Instead of raising $85 million by hiking commercial tolls 45 percent, the state Thruway Authority will be shifting at least $60 million in State Police Thruway patrol costs to the state budget’s general fund. Read More

Governor Andrew Cuomo today finally got around to announcing most of the members of the “Tax Reform and Fairness Commission,” which he first promised to create a year ago as part of the legislative deal that temporarily extended the state’s income tax hike on million-dollar earners. Read More

New York residents will pay almost $90 billion in added taxes over the next two years if the federal government plunges over its fiscal “cliff” with no changes to current law, according to a timely report issued last week by Comptroller Thomas DiNapoli. The scheduled tax changes outweigh the impact of scheduled “sequestration” cuts to federal spending, which would cost the state and local governments $5 billion over the next nine years, including a $600 million hit to the state budget in fiscal 2013. Read More