High-income New Yorkers are probably the least stable, consistent and reliable segment of the city's income tax base. According to state tax data, there were 49,000 city households with adjusted gross income of more than $500,000 as of 2007. They earned $135 billion that year. Read More
New York State leads the nation when it came to losing residents, a new report finds. Between July 2012 and July 2013, the state saw a net domestic migration of 104,470 residents while several states like Florida, North Carolina and Texas saw hundreds of thousands of newcomers during the same period, according to the report by nonprofit think-tank The Empire Center. Read More
The full extent of the continuing rise in school spending since the recession was not inevitable or unavoidable. It was the result of (a) increasing teacher compensation costs driven largely by automatic pay raises, and (b) continued relatively high levels of staffing, relative to enrollment, especially in non-teaching titles. Read More
The Empire Center’s Explore Your State Budget app has been updated to reflect financial data in Gov. Andrew Cuomo’s proposed 2014-15 Executive Budget. Read More
The Metropolitan Transportation Authority has agreed to a seven-year contract that will give MTA cops base pay increases totaling 18 percent, including a 7.5 percent retroactive boost effective immediately, the Daily News reports. Union members also scored a boost in their longevity pay, which will rise to a maximum of $9,800, in exchange for agreeing to curb overtime, stretch-out the schedule of annual pay hikes for newly hired officers and make new recruits pay 2 percent of their salaries toward health insurance. Read More
‘Building on Success” was the theme of Gov. Cuomo’s election-year budget presentation in Albany this week. But while Cuomo boasts he’s got New York headed in the right direction, the latest economic and demographic indicators suggest we still have a long way to go. Read More
New York’s imminent fall from third to fourth most populous state can be attributed mainly to its heavy loss of residents to the rest of the country—a trend persisting in this decade, according to the latest Census data. Read More
New York’s imminent fall from third to fourth most populous state can be attributed mainly to its heavy loss of residents to the rest of the country—a trend persisting in this decade, according to Census Bureau data released today. Read More