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
Category: Blog
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
Employment growth in most upstate New York regions remained weak during the year ending in February, according to the latest monthly state Department of Labor jobs report. Read More
Three years ago, Governor Andrew Cuomo blew a rare opportunity to fundamentally reform one of the most costly provisions of the New York State law regulating public-sector collective bargaining. Now he's about to blow it again. Read More