To those who don’t get north of the city’s suburbs, Cuomo’s talk of an “even” economic recovery across the state may sound fine. But a new report from the Empire Center’s E.J. McMahon highlights the ugly facts. Read More
Tag: Economy
There has been a sharp and growing economic divide between upstate and downstate. Read More
Reforms that would reduce the state’s cost burdens and improve its climate for growth. Read More
Gov. Andrew Cuomo began 2018 the way he ended 2017: demonizing Washington Republicans and fulminating against the newly enacted federal tax reform, especially its $10,000 cap on state and local tax (SALT) deductions. Two weeks after his State of the State message, Cuomo devoted a portion of his fiscal 2019 budget presentation to the same subject, pledging again to come up with a plan to restructure the code by shifting from an employee-paid to an employer-paid income-tax system. Read More
E.J. McMahon, research director at the Empire Center for Public Policy, a conservative-leaning think tank, stated that the tax conformity issues raised by the federal law would be the primary focus of New York tax policy in most years. However, the state and local tax deduction (SALT deduction) issue, and the related proposals to shift the state’s reliance away from the personal income tax, has drawn the lion’s share of attention. Read More
If the state Legislature and Gov. Andrew Cuomo don't act, some New Yorkers would be on the hook for another $1.5 billion in tax hikes, according to state records and experts. E.J. McMahon, founder of the Empire Center, a fiscally conservative think tank in Albany, Cuomo has called the federal tax law "a missile aimed at the heart of New York, and he’s got his own missile aimed at the same people." Read More
The number of educators banking six-figure annual pensions in New York City surged 23 percent last year, according to the Empire Center for Public Policy. Read More
"Upstate is not creating jobs. And you're not going to hang out in Upstate New York waiting for a job to turn up," McMahon said. Upstate is where the overall net loss for the state is coming from. McMahon, who's been crunching Census Bureau data said the impact is obvious. Read More