"Changes in the timing and structure of financial services sector compensation, which have resulted in lower than expected personal income tax [PIT] revenues" led to a $1 billion state PIT shortfall in January, which in turn has helped add $750 milli Read More
In testimony to Albany's Joint Legislative Fiscal Committees, E.J. reminded lawmakers why he's giving them the following counsel: "First, do not add any more to the state's tax burden." A excerpt to remind Albany that we've already Read More
Governor Paterson's 2010-11 Executive Budget carries a hidden New York City personal income tax (PIT) increase for the city's wealthiest households. The increase would result from adoption of Paterson's proposed changes to the state School Tax Rel Read More
Producers of films made principally in New York will receive another $420 million a year in state tax subsidies under Gov. Paterson's 2010-11 Executive Budget. The proposed allocation of $2.1 billion for the film production credit over the next fiv Read More
Daily News columnist Bill Hammond that the Empire Center's new Blueprint for a Better Budget, which proposes $30 billion in savings over three years, should be "required reading for Gov. Paterson and all 212 members of the Legislature," an Read More
Are New York's public authorities fixed? Little more than a week ago, Gov. Paterson signed a bill to ." But State Senator Bill Perkins of Harlem thinks that the convolutions New York's Empire State Development Corporation (ESDC) put itself through t Read More
"Wall Street Recovering Faster Than Anticipated" is the headline on today's press release from state Comptroller Thomas DiNapoli's office, heralding a that points to potential record-breaking profitability and lower-than-expected employment losses a Read More
When this year's state budget was first enacted back in April, the budget gap for fiscal 2010-11 was at $2.17 billion. The in July more than doubled this estimate, to $4.62 billion. And today's says next year's gap has grown by another 47 per Read More