After failing to adopt a budget on time for 20 of the last 21 years, New York State legislative leaders are seeking voter approval of a constitutional amendment that they insist on characterizing as “budget reform.” Budget de-form would be more like it. Read More
The last four years have seen a remarkable turnabout in tax policy of New York City. Considerable progress was made in reducing tax rates and the overall tax burden under former Mayor Rudolph Giuliani, from 1994 through 2001. But since 2002, the city under Mayor Bloomberg has raised taxes by up to $3 billion, two-thirds of which consisted of a record property tax hike. Read More
Significant changes in state and local tax rates can have significant consequences for New York City's economy. But how do we measure and predict those consequences? To answer that question, the Manhattan Institute's Empire Center for Public Policy has commissioned an updated and upgraded version of the State Tax Analysis Modeling Program (STAMP), developed by the Beacon Hill Institute at Suffolk University in Boston, Mass. Read More
Looking ahead to a watershed election year, most New York voters are dissatisfied with the performance of their state government, according to the Empire Center’s statewide voter survey. Large majorities also believe that state leaders are more responsive to special interests, or to their own personal interests, than to the voters’ interests. Read More
New York State has long stood alone in forcing local taxpayers to pay up to half of all Medicaid costs not reimbursed by the federal government. This divided financial responsibility is a key reason why New York easily leads the nation in Medicaid spending. Read More
The state-funded share of Medicaid costs will escalate rapidly over the next few years as Albany assumes responsibility for a greater share of county and New York Medicaid costs, according to projections explained in a new report from the Empire Center for New York State. Read More
New York State's 2006-07 Executive Budget would kick off a new round of personal income, business and estate tax reductions worth more than $3 billion annually when fully implemented over the next three years. But the cuts are coupled with more than $1 billion in proposed tax and fee increases that would take effect sooner. Read More
When premium increases are capped, insurance companies tend to seek rate increases closer to the limit. Tighter regulation of premiums could undermine the profitability of a company whose financial health the state is banking on to finance health care programs. The focus should be on health insurance regulations that drive up rates. Read More
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