By any standard of comparison, the tax increases proposed by the New York State Legislature would easily exceed all the new taxes enacted during Governor Mario Cuomo's last term in office. Read More
Category: Blog
Households in the New York City metropolitan area will account for nearly 90 percent of the added state income taxes that New York State residents will pay to help finance spending increases in the 2003-04 state budget, assuming the Legislature overrides Governor Pataki's expected veto. Read More
New York City’s latest personal income and sales tax increases will result in the loss of an additional 18,250 private sector jobs in the city, and will raise $70 million less than expected, according to the Manhattan Institute’s NYC-STAMP tax model. Read More
Many New Yorkers who may consider themselves middle class will be paying higher effective marginal rates than billionaires under the "temporary" state and city income tax hikes recently approved by the State Legislature. Read More
Despite a continuing economic slump and the most serious municipal fiscal crisis in a quarter-century, the New York City budget is growing at nearly twice the inflation rate. Read More
The 2004-05 Executive Budget features one of the largest state funds spending increases George Pataki has proposed in nine years as Governor of New York. Read More
New York State needs to spend $7 billion more to finance a “sound, basic education” for all pupils, according to the group that successfully sued to overturn the state’s education finance system. What kind of tax hike would it take to pay for such a draconian solution? This memo explores the range of possible answers to that question. Read More
A tentative contract agreement between Governor George Pataki and New York’s largest union of state government workers would permanently add billions of dollars to New York State and New York City budgets, if it is ratified by union membership and ends up setting a pattern for the state’s other collective bargaining units. Read More