Tag: The Fiscal Outlook

As E.J. notes in the post below this one, Gov. Paterson says he thinks Wall Street bonuses could be down as much as 60 percent, higher than his budget office's expected 43 percent decline. To put this estimate in perspective: after the tech bubble Read More

As shown below, the highest-earning 1 percent of taxpayers (those with incomes above $750,000 or so as of 2007) accounted for nearly 40 percent of New York's total state income tax liability last year -- up from around 27 percent in the mid-1990s.  Read More

The Post's Fred Dicker today that Paterson administration budget officials now believe New York State's 2008-09 budget gap will be in the neighborhood of $7 billion, up from a projected $5.5 billion in the wake of the Legislature's August s Read More

Almost all of 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 Read More

Given , it should come as no surprise that the state's is forecasting a  $2.1 billion deficit for the current fiscal year.   But some of the financial details released by the Division of the Budget (DOB) today are getting even more worrisome. Read More

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The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.

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