The new federal tax law is good news for New York, which bears a disproportionately heavy share of the federal tax burden. But while it rests on a solid foundation of broad-based tax relief very similar to what President George W. Bush proposed, the tax cut bill enacted by Congress left a tangle of loose ends. Read More
Giuliani took office declaring that city government was too big and taxes were too high. His first two budgets cut the headcount of city employees and reduced spending, setting the stage for both tax cuts and a series of surpluses. Read More
In their latest ploy to drag Gov. George Pataki to the budget bargaining table, New York state legislative leaders are preparing a baseline spending plan that pointedly excludes hundreds of millions of dollars for the governor's own pet programs. Read More
In the last five years, New York City’s economy has boomed and private sector employment has hit record levels. What, if anything, did lower taxes have to do with these achievements? And what are the implications for future tax policy? Read More
The horrific attack on the World Trade Center will deal a severe blow to New York's economy and government revenues for some time. In one day, the city was plunged into its worst fiscal crisis since 1990 - which, if mismanaged, may yet become as bad as the brush with bankruptcy in the mid-1970s. Read More
New York State's decision to roll the dice on more Indian casinos, video gaming and Powerball is ultimately expected to pump another $1 billion into the state treasury annually, but the inevitable court challenge may delay that payoff for several years. In the meantime, the state clearly faces a very real downturn in its economy and revenues. Read More
Some members of New York's congressional delegation seem obsessed with worry that President Bush won't deliver every penny of the $20 billion in disaster relief he promised to the city in the wake of Sept. 11. Read More
Just before the attack on the World Trade Center, Mike Bloomberg said he couldn't "prudently promise" not to raise city taxes, "because you can't see the future." Read More