New York's economy and tax base, already sagging in a deep recession, would take another huge hit under Rep. Charles Rangel’s plan to impose a surtax on high-income households to finance a new government-run health plan. Read More
Tag: Taxes and Spending
Well, what do you know? After raising taxes on high-income households by up to 31 percent, New York state is collecting far less income tax than it had anticipated just a few months ago. Read More
Who says you need to change your spending habits in the midst of the worst economic downturn since the Great Depression? The state Legislature approved over 8,000 “member items”—New York’s version of pork-barrel earmarks—adding up to jus Read More
Is Westchester County racially segregated? That’s the premise of the landmark legal settlement that, if approved by the Board of Legislators, will have the county build some 750 units of affordable housing in high-income areas. Read More
Almost all of the projected $2.1 billion deficit in this year’s New York State budget can be traced to falling tax receipts. But rising spending will represent a growing share of the problem over the next three years. In fact, more than one-third of the projected growth in next year’s gap, and over half the growth in the gap for fiscal 2013, can be traced to spending increases beyond those forecast by the Division of the Budget (DOB) in April. Read More
A new report from Unshackle Upstate, a coalition of business groups and trade associations, is recommended reading for New Yorkers concerned about the growing burden of state and local taxes. Read More
NY on road to IOU-land, too If David Paterson truly is determined to remain governor of New York, it might help if he started acting like one. Read More
In the middle of its worst economic downturn since the 1930s, New York State has just enacted its biggest personal income-tax hike since 1961. Read More