Whether they know it or not, New York State taxpayers are locked in a high-stakes partnership with a billionaire whose high-tech business empire has been "fueled by his voracious appetite for risk and unyielding confidence." Read More
Category: Blog
"Southern Tier Soaring" is the slogan Governor Andrew Cuomo has assigned to his job-creation program for the most economically troubled region of upstate New York. Better make that "Southern Tier Sinking (Further)." Read More
Among the nation's four most populous states, New York is better prepared than California to weather the next recession—but not as well-prepared as Florida and Texas, according to fiscal stress test results from Moody's Investor Service. Read More
The rate of private sector job creation in major upstate metro areas remained very low during the 12-month period ending in March, according to the latest state labor statistics. Read More
Now that the state has enacted its biggest personal income tax cut since the mid-1990s, a prime task facing Governor Andrew Cuomo and the Legislature next year will be figuring out how to accommodate the tax cut in future budgets. Read More
The new state budget will fund a 35 percent expansion of a murky $1.1 billion pork-barrel slush fund controlled by Governor Andrew Cuomo and state lawmakers. Read More
New York's budget for fiscal 2017 includes the state's biggest and broadest personal income tax cut since the mid-1990s. Equally significant, the income tax section (Part TT) of the budget's revenue bill decouples the previously temporary cuts in middle-income brackets, which will now be expanded and extended permanently, from the state's "millionaire tax," which is still due to expire at the end of 2017. Read More
While legislative leaders and Governor Cuomo were cooking their latest backroom state budget deal, the New York City Independent Budget Office was issuing five years' worth of updated statistics showing how heavily the city already depends on the volatile earnings of taxpayers at the top of the income pyramid. Read More