The expansion of property tax rebates in the new state budget has once again raised the question of whether the rebate is effectively taxable on federal returns. The answer is yes -- but only for those New Yorkers who claim itemized deductions for Read More
State Funds spending would rise by about 8.6 percent under the $121 billion budget enacted by the Legislature on March 31 and April 1, according to preliminary estimates. As shown below, this would rank among the top 10 budget increases in this categ Read More
New York’s new $121 billion budget spends at a rate of more than $331 million per day, according to an analysis released today by the Empire Center for Public Policy. Read More
Governor Spitzer's first Executive Budget called for targeted spending restraint in one major program area -- Medicaid -- along with significantly higher expenditures in many other areas, especially education. It also featured an expansion of state-s Read More
As the $121 billion state budget was heading toward passage late last week, some observers jumped to the conclusion that Gov. Spitzer had conceded too much, too soon in his first negotiations with the Legislature. Read More
Personal income in New York State increased faster than the national average last year -- and Wall Street accounted for a disproportionate share of the growth, according to . Finance-sector earnings, which represent 14 percent of all personal inc Read More
The "state funds" share of New York's next budget could rise by about 8.6 percent under the preliminary deal announced by Governor Spitzer and legislative leaders. This would rank among the top 10 budget increases in this category over the last 40 ye Read More
Governor Spitzer’s proposed $120.6 billion budget called for state-funded spending growth of 7.8 percent — three times the rate of inflation — while raising business taxes by roughly a half-billion dollars. The budget also included a significant expansion of state-subsidized school property tax breaks for homeowners, to be phased in over three years. Read More