The last four years have seen a remarkable turnabout in tax policy of New York City. Considerable progress was made in reducing tax rates and the overall tax burden under former Mayor Rudolph Giuliani, from 1994 through 2001. But since 2002, the city under Mayor Bloomberg has raised taxes by up to $3 billion, two-thirds of which consisted of a record property tax hike. Read More
Reinforcing New York City’s improved policing strategies in the 1990s were tougher sentencing laws and a significant expansion of the city and state correctional systems. Would-be criminals in the Big Apple came to realize that they were not only more likely to get caught, but more likely to end up serving hard time. Read More
Disputes over wages, health insurance and work rules, are nothing new in transit negotiations. But one of the most contentious issues in the latest contract talks between the Metropolitan Transportation Authority and Local 100 of the Transport Workers Union has implications that go far beyond the cost of a MetroCard. Read More
A proposal by the Metropolitan Transportation Authority to restructure employee pensions reportedly was the issue that this week's illegal strike by Local 100 of the Transport Workers Union. Read More
Among many other things, this transit strike has been a learning experience for a whole new generation of Yorkers too young to remember issues raised by municipal labor unrest of the 1960s and the fiscal crisis of the 1970s. Read More
Significant changes in state and local tax rates can have significant consequences for New York City's economy. But how do we measure and predict those consequences? To answer that question, the Manhattan Institute's Empire Center for Public Policy has commissioned an updated and upgraded version of the State Tax Analysis Modeling Program (STAMP), developed by the Beacon Hill Institute at Suffolk University in Boston, Mass. Read More
Governor George Pataki's final Executive Budget would increase state spending at well over twice the inflation rate while initiating a new round of significant state tax cuts that would not become fully effective until two years after he leaves offic Read More
The good economic news in Gov. Pataki's proposed budget is a fresh round of $2.5 billion in annual state tax cuts that would provide a strong shot in the arm to business investment throughout New York (assuming the cuts are phased in on schedule after Pataki leaves office). Read More