In the wake of Tuesday’s school budget votes, 16 school districts around New York must decide whether to call for a second referendum after seeing their original proposals rejected.
New York's newly enacted state budget for the fiscal year that started April 1 is balanced with higher-than-anticipated tax receipts, but out-year projected budget gaps have grown significantly larger, according to quarterly financial plan update issued late Friday afternoon by Governor Cuomo's Division of the Budget (DOB).
Nearly half of the 669 school districts seeking voter approval for budgets on Tuesday, May 15 are presenting spending plans that would increase property taxes as high as the 2011 property tax cap law allows, according to an analysis released today by the Empire Center for Public Policy.
High-tax New York has just lost one of its oldest money-management firms to low-tax Nashville, Tennessee—highlighting an ongoing shift of Wall Street jobs, and of high earners in general.
When Governor Andrew Cuomo recently signed a bill making it harder for government workers to extricate themselves from labor unions, he said it was just “the first step of the resistance.” So, what will New York’s governor and lawmakers seek to do next for their public-sector union friends?
Any plan to reduce or eliminate what local governments pay into New York’s Medicaid budget would inevitably create winners and losers. The Assembly Republicans’ version, unveiled last month, is no exception.
New York's government unions collectively spent more on lobbying last year than the state's biggest trial lawyers, landlord, tobacco and hospital interests combined. And topping the list, as usual, was New York’s powerful conglomerate of public education unions.
Nearly two-thirds of New York State’s tax receipts are now generated by the personal income tax, or PIT. As a result, the state is very heavily reliant on highest-earning 1 percent of New York taxpayers—whose effective income tax rates have increased sharply under the new federal tax law capping state and local tax (SALT) deductions.
The interactive map on this page depicts how the federal Tax Cuts and Jobs Act (TCJA) will affect New Yorkers in two different adjusted gross income (AGI) ranges: $75,000 to $100,000, and $100,000 to $200,000.
This report explores recent trends in New York’s Medicaid drug spending, the forces behind them, and how they fit into the national context.
Last week's New York state budget approval process was even more rushed, secretive, confused and sloppy than usual—stretching through Good Friday and the first night of Passover into the predawn hours of Saturday, March 31—all in the name of meeting an ultimately inconsequential April 1 "deadline" for the start of the new fiscal year.
Buried in the state budget bills rushing towards passage under cover of Passover, Good Friday evening and the coming Easter holiday is the top item on the New York government unions’ wish list—a provision designed to trap public employees into paying union dues.