Gotham Gazette

The Place for New York Policy and politics

 

bank settlements

bank settlements

  • 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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  • Cuomo new NY bridge tappan zee

    Gov. Cuomo (photo: The Governor's Office on flickr)


    In the wake of the financial collapse and the Great Recession, New York City and State officials began to rake in enormous sums of money from settlements with major banking institutions.

    Because New York is the major financial industry hub of the world, local officials have jurisdiction over these institutions, and thus related fines, forfeitures, and restitutions. In deals made outside of the budgetary process, New York officials like the Attorney General, and Manhattan District

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