As if New Yorkers didn't already suspect that they're far more heavily taxed than residents of other big cities, the city Independent Budget Office yesterday issued a study proving it more conclusively than ever. Read More
Tag: Taxes and Spending
I'd like to begin with two pointed observations about the 2007-08 Executive Budget and its impact on taxpayers and the economy: The budget will raise state taxes, in several significant respects. The budget will not provide l Read More
While Tuesday's stock market slide was a timely reminder of New York's fiscal vulnerability to external shocks, Eliot Spitzer was already voicing concern about the state's economic prospects during his campaign for governor last fall. Read More
The "state funds" share of New York's next budget could rise by about 8.6 percent under the preliminary deal announced by Governor Spitzer and legislative leaders. This would rank among the top 10 budget increases in this category over the last 40 ye Read More
As the $121 billion state budget was heading toward passage late last week, some observers jumped to the conclusion that Gov. Spitzer had conceded too much, too soon in his first negotiations with the Legislature. Read More
State Funds spending would rise by about 8.6 percent under the $121 billion budget enacted by the Legislature on March 31 and April 1, according to preliminary estimates. As shown below, this would rank among the top 10 budget increases in this categ Read More
Governor Spitzer's first Executive Budget called for targeted spending restraint in one major program area -- Medicaid -- along with significantly higher expenditures in many other areas, especially education. It also featured an expansion of state-s Read More
The expansion of property tax rebates in the new state budget has once again raised the question of whether the rebate is effectively taxable on federal returns. The answer is yes -- but only for those New Yorkers who claim itemized deductions for Read More