The double-edged sword of prepayment by E.J. McMahon |  | NY Torch

New York homeowners lining up to prepay property taxes in order to reduce their federal income taxes will also be in line for a temporary added cut in their 2017 state personal income tax. As a result, however, the prepayment phenomenon will also at least slightly erode the state government's already sagging income tax receipts in the current fiscal year—while making many of the same homeowners liable for at least a small tax hike in 2018.The rush to prepay local property taxes before the end of 2017, encouraged by Governor Cuomo in reaction to federal reform, will have some unintended consequences. [Read_more]

Cuomo’s Yuletide veto gifts by E.J. McMahon |  | NY Torch

Governor Andrew Cuomo is ending the year on a strong pro-taxpayer note, vetoing union-backed legislation that would have blocked the Nassau County Interim Finance Authority from imposing pay freezes to balance the county budget. [Read_more]

How ACA mandate repeal affects NY by Bill Hammond |  | NY Torch

The demise of the Affordable Care Act’s “individual mandate” – which is due to be repealed as part of the GOP tax overhaul – may be less consequential in New York than in most other states. [Read_more]

Little for NY in latest fed tax twist by E.J. McMahon |  | NY Torch

For the millionaire earners who generate an outsized share of New York State's income tax receipts, a possible congressional deal to trim the top tax rate in the final federal tax reform bill would take some of the sting out of losing the state and local tax (SALT) deduction.
[Read_more]

Hempstead’s lame-duck job freeze by Ken Girardin |  | NY Torch

The lame-duck supervisor of Hempstead, New York’s largest town, has inked the most indefensible no-layoff deal in Long Island’s history of open-handed labor relations—guaranteeing union jobs while asking for nothing in return. [Read_more]

Cuomo’s Essential dilemma by Bill Hammond |  | NY Torch

Federal officials have reportedly confirmed that they are cutting off a major portion of funding for New York’s Essential Plan, opening a roughly $1 billion hole in the state budget and raising new doubts about the future of a rapidly growing health insurance option for the working poor. [Read_more]

Cuomo signs 3D mammogram law by Bill Hammond |  | NY Torch

Governor Andrew Cuomo has signed a bill mandating broad insurance coverage for three-dimensional mammography, formally known as digital breast tomosynthesis, despite a lack of evidence about the long-term efficacy of the procedure. [Read_more]

NYS teacher pension costs to rise by E.J. McMahon |  | NY Torch

New York's second largest public pension fund continues to move—at a glacial pace—towards a more reasonable and prudent assumption of its future investment earnings. [Read_more]

Bypassing science on mammograms by Bill Hammond |  | NY Torch

A bill requiring health plans to cover digital breast tomosynthesis, a three-dimensional type of mammography, has been delivered to Governor Andrew Cuomo’s office for his signature or veto. If the measure is enacted into law, it would be a classic case of healthcare politics rushing ahead of medical science. [Read_more]

50 by…whenever by Ken Girardin |  | NY Torch

For a second consecutive year, the state Public Service Commission (PSC) has deeply slashed the amount of renewable energy that utility companies are forced to buy under Governor Andrew Cuomo’s Clean Energy Standard (CES). The move casts further doubt on the governor’s goal of having renewables supply 50 percent of the state’s electricity by 2030—while reinforcing the CES program’s status as primarily a bailout for money-losing upstate nuclear plants. [Read_more]
1 4 5 6 127