New York labor unions and left-leaning advocacy groups are pushing for huge increases in the state personal income tax as a way to protect their favorite out-of-control spending programs (especially Medicaid) and to finance a budgetary wish-list that is invariably headed by Justice Leland Degrasse’s Campaign for Fiscal Equity school financing decision.
In testimony before the legislative fiscal committees, the Empire Center’s director explained why this is a very bad idea.
About the Author
You may also like
Hochul Hides the Specifics of a Looming Tax on Health Insurance
The Hochul administration has requested federal approval for a multibillion-dollar "MCO tax" on health plans without announcing the move or providing details to the public.
As by l Read More
New Yorkers’ Health Costs Spiral as Officials Take Credit for ‘Savings’
The latest round of health insurance premium hikes announced by New York regulators adds to evidence that state policies are drowning consumers instead of helping them.
Late last mo Read More
Budget Deal Slows Medicaid Growth But Plants Seeds for Future Spending
The growth of New York's Medicaid spending is projected to slow but not stop as Governor Hochul and the Legislature effectively split their differences over health care in the newly enacted state budget.
Read More
Albany Lawmakers Push a $4 Billion Tax on Health Insurance
Legislative leaders are proposing an additional $4 billion tax on health insurance plans in the upcoming state budget – but withholding specifics of how it would work. Read More
Hochul Tells It Like It Is
Presenting her budget this week in Albany, Gov. Kathy Hochul delivered more than just a financial plan. She gave the state a refreshing dose of fiscal honesty.
“The truth is,” Hochul said, “we can’t spend like there’s no tomorrow, because tom Read More
As migrants flow to NY, so does red ink
The influx of foreign migrants to New York could cost the state $4.5 billion more than expected next year, Governor Hochul today warned. Read More
The Bill Arrives: NY Faces $9B Budget Gap Next Year
New York’s outyear budget gaps, the shortfall between planned state expenses and state tax receipts over the next three years, has exploded to more than $36 billion, just-released documents show. Read More
NY school spending again led US, hitting all-time high in 2020-21
Public elementary and secondary school spending in New York rose to $26,571 per pupil in 2020-21, according to the latest Census Bureau data Read More