Taxes and Consequences: The Gotham STAMP 2006 Computable General Equilibrium Model | Reports

Significant changes in state and local tax rates can have significant consequences for New York City's economy. But how do we measure and predict those consequences? To answer that question, the Manhattan Institute's Empire Center for Public Policy has commissioned an updated and upgraded version of the State Tax Analysis Modeling Program (STAMP), developed by the Beacon Hill Institute at Suffolk University in Boston, Mass.

Pricing the “Luxury Product”: New York City Taxes Under Mayor Bloomberg by E.J. McMahon | | Reports

The last four years have seen a remarkable turnabout in tax policy of New York City. Considerable progress was made in reducing tax rates and the overall tax burden under former Mayor Rudolph Giuliani, from 1994 through 2001. But since 2002, the city under Mayor Bloomberg has raised taxes by up to $3 billion, two-thirds of which consisted of a record property tax hike.

Paterson OK’s unionization of home-based child care providers by E.J. McMahon | | NY Torch

On October 4, Governor Paterson signed S.7451/A.10764, a bill that allows home-based child care providers to unionize -- adding more than 65,000 child care providers to the already powerful Civil Service Employees Association (CSEA) and the United Federation of Teachers (UFT).

Paterson's signature codifies...

Breaking the Budget in New York State by E.J. McMahon | | Reports

After failing to adopt a budget on time for 20 of the last 21 years, New York State legislative leaders are seeking voter approval of a constitutional amendment that they insist on characterizing as “budget reform.”

Budget de-form would be more like it.

Legislators Still Aim to Sweeten Public Pensions by E.J. McMahon | | NY Torch

The employer share of pension contributions in New York has risen by more than $3 billion in the last five years, straining taxpayers throughout the state. Yet state legislators this year have passed dozens of bills—and introduced literally hundreds of others—that would further expand the already generous retirement benefits of government workers.

Private Property and “Public Use” in NY | NY Torch

New York State and New York City were pushing the envelope on "public use" condemnations of private property to benefit other private owners even before the practice was ratified in a controversial U.S. Supreme Court decision last week.

The Kelo ruling provides more than enough justification for a careful reconsideration of eminent domain and its uses by the UDC and other government agencies in New York. Will any of our elected officials take the hint? Stay tuned.

It’s Alive | NY Torch

With little advance notice or fanfare, a constitutional amendment (S.1) that would give the Legislature much more power to shape the state budget was reported out of the Senate Finance Committee today. The Assembly version (A.2) was approved back in February, so the measure is now a big step closer to a statewide voter referendum.

Another Middle-Class Tax? How the Federal AMT Hits New Yorkers by E.J. McMahon | | Reports

Federal income tax cuts enacted during the past four years have been particularly benefcial to New York, saving Empire State residents a total of $36 billion through 2004. However, as documented in this report, New Yorkers are also being hit harder than most Americans by what’s been called “the most serious problem faced by federal taxpayers” — the Alternative Minimum Tax (AMT).