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Gotham Gazette

The Place for New York Policy and politics

 

Taxes

Taxes

  • govandcuomo albany

    Budget Director Mujica, Gov. Cuomo, Comptroller DiNapoli (photo: governor's office)


    New York’s tax revenue fell by $3.7 billion, a 4.7% decline, in the 2019 fiscal year that ended March 31, according to the cash report released Friday by State Comptroller Tom DiNapoli. A drop was expected in projections made last year, but not to the degree it occured, setting off alarm bells earlier this year as the state started to see apparent effects of New York taxpayer behavior resulting from the new federal tax code. The state's latest projections from February did,

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  • cuomo salt weather

    (photo: governor's office)


    The federal tax law overhaul enacted at the end of 2017 capped state and local income and property tax deductions on federal income tax returns at $10,000, damaging millions of New Yorkers’(and tens of millions of other Americans’) ability to itemize deductions on their federal tax returns. The change also resulted in sudden shifts in New Yorkers’ behavior toward their own New York tax payments. Over the past two budget cycles the changes have destabilized New York State’s tax revenue collection patterns and caused considerable

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  • governor and cuomo salt rev

    Gov. Cuomo, middle, and Comptroller DiNapoli, right (photo: Governor's office)


    In the last few months, Governor Andrew Cuomo and State Comptroller Tom DiNapoli have raised red flags about the impact of the 2017 federal tax overhaul ushered through by President Trump and Republicans in Congress. Chiefly, they said that a new $10,000 cap on the State and Local Tax (SALT) deduction has led to a massive drop in revenue and is likely being accompanied by increased outmigration of high-earning New Yorkers to states with lower taxes.

    But

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  • gov cuomo long island no tax

    Gov. Cuomo on Long Island (photo: governor's office)


    Before Democrats reclaimed the state Senate last year, Governor Andrew Cuomo spent years triangulating with the Democratic-controlled Assembly, two factions of Senate Democrats, and the Republican Senate majority. The arrangement allowed him a heavy hand over the legislative and budget agendas in Albany and gave him the ability to claim credit and deflect blame as he saw fit (though critics didn’t always buy his explanations). Progressive legislation regularly withered on the vine

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  • got ga si gov

    (photo: Governor's office)


    As we near the final days of state budget negotiations, a familiar anxiety is growing as advocacy groups and everyday New Yorkers await the fate of critical policy and funding decisions.

    Despite a fast start to the legislative session and optimism abounding from a Democratic trifecta that seemed focused and committed to delivering on campaign promises, the realities of the same-old behind-closed-doors budget process are setting in ahead of the April 1 deadline.

    For far too long, the state budget has contributed to growing

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  • adaptny mayors

    (image: mayor's office)


    Governor Andrew Cuomo, Senate Leader Andrea Stewart-Cousins, and Assembly Speaker Carl Heastie have all signaled their support for funding the long overdue MTA overhaul with a pied-à-terre tax. Cuomo has said it’s the “only agreed-to new money” for the upcoming state budget. But the challenges facing struggling families in New York demand more than just a pied-à-terre tax. We need an entire reimagining of New York’s upside-down tax system.

    There are over 75,000 apartments in New York City owned by people who don’t live there

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  • whats the data point


    What's The [Data] Point? Episode 60 -- 18.6%, Inequality and the Social Safety Net, with Greg David and Cara Eisenpress [You can download What's The [Data] Point? wherever you get your podcasts, including on iTunes]

    gregdavid caraepress amazon18.6% is the poverty rate in New York City. Greg David and Cara Eisenpress, both from Crain's New York Business and the Craig Newmark

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  • govcoumo realestate

    Cuomo, de Blasio & an Amazon rep celebrate (photo: Kevin P. Coughlin/Governor's Office)


    Amazon’s decision to put a corporate campus in Long Island City after a year-long, somewhat-public search for a host city and a series of incentives from New York City and State has drawn skepticism and outrage in Queens and beyond for a number of reasons.

    Some activists and elected officials oppose the secretive process by which Amazon got its land, tax breaks and grant, others feel like the company isn’t a corporate entity the city and state should be

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  • Cuomo taxes

    Gov. Cuomo (photo: Don Pollard/Governor's Office)


    When the dust settles on the 2018 elections, whoever is governing the state will be faced with problems like what to do about NYCHA and the MTA, and how New York should respond to climate change, among many others. Another

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  • govcuomo mta transit

    (Photo: Don Pollard/Office of Governor Andrew M. Cuomo)


    There is a sudden new source of money in New York that is getting little attention in the debate about where the MTA will get resources to fund the ambitious plans to solve its problems, let alone just manage to keep the mass transit system going. That source is the big corporate income tax cuts just enacted by the federal government that have put billions - yes, billions - of dollars into the hands of New York businesses and their owners.

    There are several reasons why tapping this resource

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  • marc molinaro twit

    Marc Molinaro, left (photo via @marcmolinaro)


    Nearly three months after launching his campaign for governor, presumptive Republican nominee Marc Molinaro has spent most of his time hammering incumbent Andrew Cuomo, a two-term Democrat, on ethics scandals, economic development spending, and other issues. But key questions remain about Molinaro’s own policy stances.

    “I know that campaigns are marathons, not sprints,” he recently told Gotham Gazette, after

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  • marc molinaro launch

    Marc Molinaro (photo: Ben Max/Gotham Gazette)


    Ask Marc Molinaro about nearly anything, and the Republican nominee for governor will likely bring the conversation back to property taxes and affordability.

    “My focus, ultimately, will be to drive down costs on middle class New Yorkers,” he said in a Wednesday interview with Gotham Gazette. “That focus, again, has to be on property taxes because New York, unlike every other state in America, forces more of its state spending on property taxpayers. Property taxpayers -- small tax base; large, acute burden on

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  • andrew cuomo excelsior

    Gov. Cuomo (photo: Kevin P. Coughlin/Governor's Office)


    Other high-tax states have considered it, but New York just became the first state to actually do it:  revamp its tax code to mitigate the new $10,000 federal cap on deducting state and local taxes (SALT). As part of the new state budget, the Legislature enacted the Governor’s plan for a new voluntary 5% payroll tax New York employers can opt into. It would exempt their employees from paying state income tax, and thereby help keep them below the federal cap.

    But the new payroll tax

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  • whats the data point


    What's The [Data] Point? Episode 34 -- $9.5 billion with Andrew Rein [You can download What's The [Data] Point? wherever you get your podcasts, including on iTunes]

    wtdp rein

    $9.5 billion is the new Citizens

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  • 37749459904 8287feee00 z

    (photo via The Governor's Office)


    The recently passed federal tax law will deepen inequality and jeopardize the health and wellbeing of families and individuals across our state. This legislation penalizes New Yorkers by capping the state and local tax (SALT) deduction and will create deficits that are likely to result in catastrophic cuts to the programs they depend on. These tax “cuts” will drive up the national deficit, which will then be cynically used as a rationale for slashing investments in critical programs such as food assistance,

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  • whats the data point


    What's The Data Point? Episode 28 -- $14.3 Billion, with Robert Mujica and Dean Fuleihan [You can download What's The [Data] Point? wherever you get your podcasts, including on iTunes]

    robert mujica cbc panel jan23

    State Budget Director Robert Mujica and New York City First Deputy Mayor Dean Fuleihan spoke at a CBC event on Wednesday, January 24 to discuss the

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  • Cuomo top aides budget

    Gov. Cuomo and top aides (photo: The Governor's Office)


    With the state facing a larger than usual expected budget shortfall for its next fiscal year, Governor Andrew Cuomo has been railing against the devastating impact proposed federal tax reforms would have on New York state finances.

    The controversial reform plan that is still being negotiated in Washington, D.C. would either modify or completely eliminate the ability of New Yorkers to deduct state and local taxes from federal tax burdens and likely have deep economic impact for

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  • picture the homeless vacant lots

    protesting unused vacant property (via @pthny)


    In New York City, the demand for affordable housing far exceeds supply. Seventy percent of the city’s homeless shelter residents are families. Families who should be in homes.

    Now, as the United States House of Representatives and Senate look to

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  • de Blasio subway tax

    De Blasio on the train (Edwin J. Torres/Mayor's Office)


    Amid an ongoing feud -- between the Mayor Bill de Blasio on one side and Governor Andrew Cuomo and the MTA on the other -- over funding for mass transit infrastructure in New York City, 27 New York City Council Members on Thursday announced support for the mayor’s proposal to tax wealthy New Yorkers to raise money for subway and bus improvements.

    The mayor has pitched a tax increase on the top-most earners in the city as part of his “Fair Fix” plan, which would raise about $700

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  • womens march

    (photo: @womensmarch)


    On Tax Day, hundreds of thousands of protesters will take to the streets to demand President Trump release his tax returns and hold the wealthy accountable for taxes that the rest of us pay every year.

    Our group, the Center for Popular Democracy, will be among those calling for a tax system that ensures everyone

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  • week in review bus readers

    photo: Stanley Kubrick via Museum of the City of New York


    Gotham Gazette's Week in Review, Friday February 12

    PHOTOS OF THE WEEK: Mayor de Blasio participates in the HOPE Count of homeless people living on the street, via Michael Appleton/Mayor's Office; Council Speaker Melissa Mark-Viverito delivers her State of the City speech, via William

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  • city limits tax rates graph


    When Mayor de Blasio arrived in Albany on Tuesday, he had a lot to talk about: aid to CUNY, cost-sharing for Medicaid, mayoral control of the schools and more. Instead, upstate lawmakers wanted to talk about a property tax cap. New York City is the only place in the state that doesn't have one, and apparently that irks Republicans.

    The property tax is one of the few revenue lines that the city controls on its own. If it wants to raise other taxes, like the income tax, it has to go to Albany for approval. That fact is probably not

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  • Cuomo announcement infrastructure

    Cuomo (photo: Kevin P. Coughlin/Office of the Governor)


    Lawmakers returning to Albany this week to kick off the 2016 legislative session are faced with a litany of unresolved issues from last year and the spectre of the recent convictions of two former legislative leaders.

    Add to that impending elections for all 213 legislative seats, some of which will be critical for the future of state Senate control and the prospect of future indictments hinted at by U.S. Attorney Preet Bharara and you have a recipe for potential

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  • de blasio press conference distance

    De Blasio at a press conference (Ed Reed/Mayoral Photography Office)


    It's hard to go a few hours in New York political circles without hearing a joke about the mayor being late. Mayor de Blasio earned the taunts, having had a punctuality problem, which offended many New Yorkers. These days, de Blasio is almost never late for public events, though, seeming to have corrected what should have been an avoidable mistake of his early tenure.

    Still, nearly two years into his term, de Blasio is dogged by a reputation for tardiness, as well as other

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