Under the fiscal year 2025 executive budget, inflation-adjusted state funding would fall for a third consecutive year. While State spending rose in response to Covid, it will return to its pre-Covid trend by fiscal year 2025.| Fiscal Policy Institute
While most coverage of the Republican reconciliation proposals has focused on Medicaid, the largest financial impact on New York’s healthcare system comes from another program – the Essential Plan. The current House Republican budget proposal threatens to cut the program by $7.6 billion or 57 percent, while increasing state Medicaid costs by $2.7 billion.| Fiscal Policy Institute
A Q&A about federal funding cuts| Fiscal Policy Institute
A Q&A about federal funding cuts The post Making Sense of Federal Funding Cuts in New York appeared first on Fiscal Policy Institute.| Fiscal Policy Institute
New York can protect its Medicaid system from Trump’s cuts – but it needs to act now. The post The State is Understating Threats to NYS Medicaid After OBBBA appeared first on Fiscal Policy Institute.| Fiscal Policy Institute
The new federal budget will cost New York State $10 billion annually. The State will have to step in. The post Filling the Gaps: State Tax Policy after the OBBBA appeared first on Fiscal Policy Institute.| Fiscal Policy Institute
FPI Director Nathan Gusdorf presented a briefing on July 17 about how state tax policy can respond to the federal funding cuts in the "One Big Beautiful Bill Act". The post FPI Briefing on State Tax Policy after the OBBBA appeared first on Fiscal Policy Institute.| Fiscal Policy Institute
Read Full Report By Bailey Hu, Health Policy Analyst, & Michael Kinnucan, Director of Health Policy Prior to the passage of the Affordable Care Act (ACA) in 2010, small business employers in New York and other states often had difficulty buying affordable health insurance, especially if their employees were in| Fiscal Policy Institute
The Fiscal Policy Institute (FPI) is an independent, nonpartisan, nonprofit research, and education organization committed to improving public policies and private practices to better the economic and social conditions of all New Yorkers.| Fiscal Policy Institute
Watch the Briefing Download the Memo -- Last Friday, July 4, 2925, President Trump signed a sprawling piece of legislation —referred to as the “One Big Beautiful Bill Act” (“OBBBA”) — that enacts one of the most regressive set of tax and spending cuts seen in [...] The post FPI Briefing on the Federal Budget Reconciliation Bill appeared first on Fiscal Policy Institute.| Fiscal Policy Institute
Zohran Mamdani’s recent victory in the New York City Democratic primary election has brought FPI’s past research on millionaire tax flight into the national spotlight. The post FPI Research on Tax Migration cited on NBC, CNN, MSNBC appeared first on Fiscal Policy Institute.| Fiscal Policy Institute
Fiscal Policy Institute Director Nathan Gusdorf today released a statement on the federal budget legislation that passed the U.S. House of Representatives this afternoon by a vote of 218-214, with all of New York's Republican representatives voting in favor of the bill. The post The Federal Budget is an Assault on New York appeared first on Fiscal Policy Institute.| Fiscal Policy Institute
Yesterday, in a 51-49 vote, Senate Republicans passed the “One Big Beautiful Bill Act” (OBBBA), which, if passed by the House this week, will increase the national debt by approximately $4 trillion while leaving 11 million more Americans uninsured by 2035. The bill is significantly more draconian in its Medicaid cuts than the version passed by the House in May, cutting the program by $1 trillion over 10 years, rather than the $800 billion proposed in the House bill. The post One Big Beaut...| Fiscal Policy Institute
70 of New York's 156 hospitals are at risk of closure from federal Medicaid cuts| Fiscal Policy Institute
The Bronx and Brooklyn have the costliest childcare as a share of family income of any county in the US.| Fiscal Policy Institute
Over 100 organizations signed a letter calling on Congress to protect the essential plan, which provides health insurance to 1.6 million New Yorkers.| Fiscal Policy Institute
3.5 million New Yorkers – 18 percent of the state population – depend on SNAP benefits, which average $209 per month for a participant (about $2,500 per year). The OBBBA would threaten SNAP benefits for over 1 million New Yorkers, including 363,000 children.| Fiscal Policy Institute
Statement on First Quarterly Update to FY 2025 Budget| Fiscal Policy Institute
The State of New York’s Fiscal Outlook| Fiscal Policy Institute
The State of New York’s Fiscal Outlook| Fiscal Policy Institute
Understanding Childcare Policy in New York| Fiscal Policy Institute
Financing Affordable Multi-Family Housing Development| Fiscal Policy Institute
FPI: Mayor’s Continued Budget Cuts Are Unwarranted and Fiscally Irresponsible| Fiscal Policy Institute
Understanding Childcare Policy in New York| Fiscal Policy Institute
The First Quarterly Update to the State’s financial plan indicates the State remains on strong fiscal footing, with modestly higher revenue than projected in the Enacted Budget financial plan and lower spending than expected. Measured as a share of total state personal income, State spending is set to fall, and is on par with its fiscal year 2016 level.| Fiscal Policy Institute
The typical family that moves out of New York State saves 15 times more from lower housing costs than they do from lower taxes. Of the top twenty largest county-to-county moves out of New York State, annual mortgage costs are on average $18,300, or 34 percent, lower outside New York.| Fiscal Policy Institute
Governor Hochul’s directive to the MTA to 'indefinitely pause' planned congestion pricing for New York City, and her proposed alternative revenue sources, are ill-advised tax and economic policy.| Fiscal Policy Institute
Governor Hochul’s directive to the MTA to 'indefinitely pause' planned congestion pricing for New York City, and her proposed alternative revenue sources, are ill-advised tax and economic policy.| Fiscal Policy Institute
The fiscal year 2025 enacted budget totals $237 billion, an inflation-adjusted decline of 0.4 percent from fiscal year’s 2024 total budget. In non-inflation-adjusted terms (nominal dollars) this represents an increase from fiscal year 2024’s total budget of $231.6 billion.| Fiscal Policy Institute
Under the fiscal year 2025 executive budget, inflation-adjusted state funding would fall for a third consecutive year. While State spending rose in response to Covid, it will return to its pre-Covid trend by fiscal year 2025.| Fiscal Policy Institute
The housing deal currently under consideration in budget negotiations (as publicly reported) would create new tax incentives for affordable housing developers, weaken certain tenant protections passed in 2019, and impose a watered-down version of “Good Cause Eviction” with significant exemptions and loopholes.| Fiscal Policy Institute
