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
Tag: Taxes and Spending
On Dec. 6, 2011, Gov. Cuomo and legislative leaders announced a deal to extend New York's biggest income tax increase in 50 years, targeting earners of $1 million and more for what will be the third highest income tax rate imposed by any major state. Read More
This week’s hurriedly enacted deal between Governor Cuomo and the Legislature means state income taxes will now return to the pre-2009 level for over 100,000 New Yorkers who have been subject to a temporary “millionaire tax,” even though they earn much less than $1 million. Read More
A $62 million initiative to promote job creation for unemployed inner-city youths was part of last week’s tax increase deal between Gov. Andrew Cuomo and the state Legislature. Read More
'The largest convention center in the nation, period" -- in Queens? Is he kidding? Nope. In his State of the State address Wednesday, Gov. Andrew M. Cuomo did, indeed, tout the same sort of white elephant already being chased by states and cities across the country. Read More
In the wake of the nation’s worst economic downturn since the 1930s, New York State’s counties, municipalities and school districts face intense budgetary pressure. To bring spending into line with tightly constrained revenues, especially under a newly imposed property tax cap, local governments need more than ever to control rising employee salary and benefit costs. Read More
As part of his 2012-13 budget legislation, Governor Cuomo has proposed the most significant and potentially far-reaching reform of New York public pensions in at least 36 years. While the governor’s plan is far from being an ideal solution to the problem of exploding pension costs and long-term liabilities, it includes some significant steps in the right direction, which are worthy of serious consideration and support. Read More
New York's K-12 education spending has a recent "historical pattern" of increasing 5.3 percent a year, according to the state Education Department. Read More