Ever Upwards: Real Spending Growth Under Pataki and Cuomo by E.J. McMahon |  | NY Torch

As another budget cycle begins, Governor Pataki is once again citing his record of spending restraint. Adjusted for inflation, however, the rate of state spending growth actually has been higher in Governor Pataki's first two terms than it was in Mario Cuomo's last two terms. [Read_more]

The Tax Whose Time Has Gone by E.J. McMahon |  | NY Torch

New York City’s post-9/11 fiscal problems are prompting fresh calls in some quarters for reinstating the city’s commuter tax, which could generate as much as $500 million, to help close a projected budget gap of at least $3.6 billion. But the usual arguments for the tax just don’t stand up to scrutiny. [Read_more]

Threatened Tax Surcharge Hike Would Cost City 10,700 Jobs by E.J. McMahon |  | NY Torch

Reimposing the full 14 percent surcharge on New York City’s resident income tax will cost New York’s battered economy 10,700 badly needed private sector jobs, according to the Manhattan Institute’s tax policy simulation model. As a result, our model indicates the revenue gain from a restored surcharge will be about $30 million less than has been projected. [Read_more]
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