The state Labor Department’s annual re-benchmarked payroll job data is out today — and it doesn’t look good for much of New York... Read More
Month: October 2013
While voters across New York go to polls to determine the fate of proposed school district budgets, the Census Bureau has just released its annual breakdown of public school spending. Read More
A full package of basic welfare benefits in New York State is now worth $38,004 — seventh highest among those offered by the 50 states and the District of Columbia, according to The Work vs. Welfare Trade-Off, a study released today by the Cato Institute. Read More
In line with New York’s motto — “Excelsior” — the state assumes its tax receipts are headed ever upward. Late last week, Governor Cuomo and legislative leaders announced they had agreed to a consensus forecast adding $200 million to the combined receipts... Read More
New York’s economy grew at barely half the rate for all 50 states in 2012, according to newly released federal data. The Empire State’s share of real Gross Domestic Product (GDP) was up 1.3 percent last year, compared to 2.5 percent for all states (and 1.5 percent for the northeast as a whole). Read More
So, in the end, the state’s pension guardian caved, after all. To his credit, Comptroller Thomas DiNapoli did not embrace Governor Cuomo’s dubious proposal to allow localities to massively underpay pension contributions to the New York State and Local Retirement System... Read More
Requiring timely payment in full of every employer’s actuarially determined annual required contribution is among the hallmarks of pension fund probity, in both the public and private sectors. Unlike many of its counterparts in other states, the New York State Teachers’ Retirement System (NYSTRS) has always lived up to that high standard. Until now. Read More
Governor Cuomo and the Legislature are about to add another gnarly twist to the state’s heavily cluttered personal income tax code with their agreement to create a new “Family Tax Credit.” Read More