As expected, President Obama's calls for a return to pre-2001 income tax rates and new limits on itemized deductions for filers with incomes starting as low as $200,000 -- essentially the same thing the president proposed two years ago. [caption Read More
When New York State's first-quarter tax receipts came in nearly $800 million above the 2011-12 financial plan forecast last week, I that the anemic 1 percent year-to-year quarterly growth in personal income tax (PIT) withholding payments was "ground Read More
New York State's 2010-11 2011-12 fiscal year appears to be off to a good start. Tax collections for the first quarter of the year were nearly $800 million above Governor Andrew Cuomo's initial budget projections, according to the June cash report posted today by state Comptroller Thomas DiNapoli. Read More
At least one leading bond counsel firm is issuing supplemental opinions to the effect that New York State's cap on local property taxes may violate the state Constitution's debt impairment provision. The lawyers' reasoning is unpersuasive, serving Read More
After sailing unscathed (with steady pay hikes, no less) through a severe recession and fiscal crisis, members of New York's largest state government union will belatedly make some relatively small, mostly temporary financial sacrifices under the ten Read More
This quotes Assembly Speaker Sheldon Silver as saying the agreed-upon property tax cap will expire in five years. If that's true, the cap is not worth the paper it's written on--since, as explained and , one house of the Legislature will be able Read More
The and Albany both report today that Governor Andrew Cuomo's proposed public pension changes may include an optional defined-contribution retirement plan. (See Update below.) Read More
The Empire State is next to last -- just above California -- in a new ranking by corporate chief executive officers of "Best and Worst States for Business." Read More