Gov. Cuomo has just been handed a decidedly mixed bag of tax-reduction recommendations — combining pro-growth business-tax cuts with a gimmicky “property-tax relief” package that would deliver virtually no economic bang for the buck. Read More
Tag: Budgets
The Empire Center’s Explore Your State Budget app has been updated to reflect the state’s mid-year financial report for fiscal 2014. This online database of New York state budget information, which is accessible through the Center’s SeeThroughNY website, includes actual results, estimates and projections for major spending and tax categories from 2012 until fiscal 2017. Additionally, the tool contains annual disbursements dating back to 1984 and tax receipts since 1976. Read More
Governor Cuomo has projected that maintaining a 2 percent cap on annual growth in state expenditures could lead to a budget surplus of up to $2.9 billion by fiscal year 2017. The key question, in his words, is “how do you use this period of growth to actually increase the economic competitiveness of the state of New York?” Based on our analysis of New York’s state and local tax structure, that question could be answered by addressing the following five initial tax policy priorities, which would not only make New York more business-friendly, but would reduce the high tax burden on all New York residents Read More
Gov. Cuomo has OK’d a bill allowing suburban Rockland County to issue bonds to cover a portion of its huge budget deficit — without the customary mandate for a state takeover of the troubled county’s finances. In letting Rockland buy time with borrowed money, the governor is all but inviting New York’s other troubled counties and municipalities to push for similar treatment. Read More
This forum focused on why long-term financial planning is essential for local governments and school districts, and how such plans can and should be implemented for counties, municipalities and school districts. Read More
New York’s property tax levy cap makes it more important than ever for local governments and school districts to bring their long-term spending into line with long-term revenues. But most localities don’t issue budget forecasts that look further than a year ahead —making it it easier to put off tough decisions. Read More
By a variety of measures, New York is easily the nation's most heavily taxed big city. In devising a strategy for competing economically on both a global and regional basis, New York’s next mayor needs to recognize that the city can’t tax with impunity... Read More
The only school district in Western New York to be operating on a contingency budget for the upcoming school year granted its superintendent a pay raise and new benefits... Read More