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: Taxes and Spending
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
A large majority of New York City residents think the non-Indian gambling casinos authorized by Proposal One on next week’s statewide ballot will bring in “significant new revenue for New York state and local governments,” according to a New York Times-Siena poll released Tuesday. Read More
What if you could get coverage that was nearly free after you retire? If you're a public employee in New York you can. But right now, experts warn it could be too much for taxpayers to bear. It’s an issue we’re uncovering in tonight’s New York State Exposed report. Read More
Bill de Blasio seems poised to waltz into Gracie Mansion largely on the strength of his proposal for a soak-the-rich income tax hike. But the tax increase would need approval in Albany, where Gov. Andrew Cuomo wants to position himself as a moderate tax-cutter for his 2014 re-election bid. So the governor is doing his best to discourage de Blasio, warning that a city tax increase would prompt wealthy New Yorkers to flee to Florida. Read More
New York's State Legislature spent over $102 million during the six-month period ending last March, according to the latest legislative expenditure data posted at SeeThroughNY. The expenditure information, which goes back to 2007, can be sorted by reporting period, expenditure type, and member name. Users can also isolate spending for individual units of the Legislature's central staff. Read More