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Fiscal Policy Institute

@nyfiscalpolicy.bsky.social
452 followers 144 following 114 posts

An independent, nonpartisan think tank that advances sound and equitable fiscal policy to strengthen New York’s economy. www.fiscalpolicy.org

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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 08/10/2026
Thursday at 10 am, Executive Director @emmurpheis.bsky.social will appear on the 30 Issues in 30 days series to discuss New York taxes and the Governor's race.
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New York City Policy Forum @nycpolicyforum.bsky.social · 15/09/2026
Join us and the @cuny.edu School of Law Burns Program for a talk on 9/30 with @hellodcwp.bsky.social Commissioner Sam Levine and writer @edwardongwesojr.com exploring city government tools to protect New Yorkers through the rise of AI and corporate consolidation: buff.ly/kcsU0fL
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 03/09/2026
"We have a very well functioning income tax system that raises a lot of revenue, and is, according to many economists, just the best way to raise revenue and make sure we're raising it from those who are the luckiest amongst us" FPI in Hell Gate on the NYC comptroller's income inequality report.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 31/08/2026
The full report: fiscalpolicy.org/states-with-...
fiscalpolicy.org
States with Progressive Tax Systems Are the Most Millionaire Friendly - Fiscal Policy Institute
New IRS data on 2023 tax filings show millionaire tax flight is rare.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 31/08/2026
New York saw a slight increase in its concentration of millionaires while the national share remained flat. Florida, which has no personal income tax, saw its concentration decline. The predicted exodus to low tax states has yet again failed to appear. 3/4
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 31/08/2026
New IRS data on 2023 tax filings show that states with millionaire taxes have the highest concentration of millionaires. These states attract the most educated workforces and have the most capacity to invest in high-quality public services and infrastructure. 2/4
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 31/08/2026
Our new analysis finds that states that tax high earners produce more millionaires. This is no surprise: Investing in an educated workforce, childcare, and reliable transit strengthens the economy and pays back dividends for everyone, including the rich. 1/4
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 17/08/2026
A filing by tenant groups in the lawsuit against the rent freeze in NYC cites FPI's testimony before the RGB, showing operating income across the rent-stabilized stock has climbed 56.6% after inflation over the past 25 years. @housingwire.com.web.brid.gy www.housingwire.com/articles/ten...
housingwire.com
Tenant filing disputes landlord claims in NYC rent freeze case
Tenants intervene in NYC rent freeze challenge, disputing landlord hardship claims and citing 56.6% real income gains over 25 years.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 13/08/2026
"Wealthy, high-income people want to make a big show of how burdensome taxes are because it very effectively makes the case for taxes to be decreased on them.” But there's little evidence a pied-à-terre tax will cause outmigration, FPI tells AM New York www.amny.com/law/experts-...
amny.com
Legal scholars and tax experts question effectiveness, strength of suit against NYC pied-à-terre tax | amNewYork
The suit seeking to tie up the city’s pied-à-terre tax in the courts is “weak” and likely to be ineffective in accomplishing any significant delay in the
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 10/08/2026
450,000 New Yorkers have already lost Essential Plan coverage this summer—the most rapid loss of health insurance in state s history. Most of those kicked off will remain uninsured. Nationwide, individual marketplace enrollment could drop by 17–26% by the end of the year.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 04/08/2026
In @financialtimes.com, FPI responds to a widely cited but wildly misleading claim about business taxation in the US. Coverage of the Mayor's "Open for Small Business" says that NY businesses face the US's highest tax rate—but no small businesses pay this tax. giftarticle.ft.com/giftarticle/...
giftarticle.ft.com
Letter: Few small companies pay New York business tax
From Andrew Perry, Director of Fiscal Research, Fiscal Policy Institute, New York, NY, US
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 31/07/2026
“My guess about it is that this was basically the state giving CMS a small win without hurting anyone,” FPI's Michael Kinnucan tells @crainsnewyork.bsky.social, noting that moratoriums are not very effective, unless officials have a plan to detect fraud. www.crainsnewyork.com/health-care/...
crainsnewyork.com
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 29/07/2026
Mamdani’s 2.5% is “a good target that is ambitious, but it’s not wildly so,” said FPI's Andrew Perry, who estimates the targets will produce roughly $2.5–$3B in savings for the next fiscal year—adding that repeated savings exercises have already identified much of the low-hanging fruit.
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New York City Policy Forum @nycpolicyforum.bsky.social · 28/07/2026
Why does it suddenly feel like flash flood warnings are constant? Rain is falling much *faster* in NYC than it used to Urban climate expert Eric Klinenberg explains these "cloudburst events" & the "sponge city interventions" NYC needs to adapt to them nycpolicyforum.substack.com/p/how-to-han...
nycpolicyforum.substack.com
How to Handle a Rain Bomb
Eric Klinenberg and Daniel Aldana Cohen discuss flash flooding and sponge infrastructure in New York City
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 27/07/2026
"Childcare accessibility is seen as key to keeping New Yorkers here. Families with children under age 6 are 40% more likely to move out of New York state, according to a study by the Fiscal Policy Institute." www.lohud.com/story/news/l...
lohud.com
New York childcare voucher boost for Rockland wipes out waiting list
The state budget includes $3 billion for OCFS' Childcare Assistance Program, or CCAP. Rockland County's allocation of that is $18.7 million.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 25/07/2026
Federal cuts to SNAP and Medicaid will only get worse next year. In the next state budget—6 months away—New York must raise new revenue to prevent catastrophic coverage loss. @emmurpheis.bsky.social speaks with Jack Arpey on @spectrumnewsny1.bsky.social
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 23/07/2026
"New Yorkers deserve effective & timely government action on critical priorities from street safety to technological progress. Too often, though, excessive review & outdated procedures obstruct city action, slowing progress on a range of issues." —@emmurpheis.bsky.social www.nyc.gov/mayors-offic...
nyc.gov
COGE Releases 5 Ballot Proposals and Final Report to Make Government Work Better for New Yorkers
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 21/07/2026
Florida also has the US's most regressive tax system, per @itep.org. Its top 1% of earners pay only 2.7% in state and local taxes, while its poorest 1/5th pay 13.2%. Weaker infrastructure (e.g. public transportation) contributes to Miami's cost of living exceeding NYC's.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 21/07/2026
The threat of millionaire tax flight to Miami loomed over New York budget debate this year. But the threat is largely empty. Miami is simply more expensive than NYC, wiping out any tax savings.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 21/07/2026
Big companies are not moving people out of New York. There was no flight to Miami. New York is not losing millionaires or Wall Street finance sector jobs. Great interview with @gregdavidonnyc.bsky.social on @thebrianlehrershow.bsky.social correcting misinformation. wnyc.org/browse/shows...
wnyc.org
NYC's Office-Space Boom | WNYC
Greg David talks about the recovery of the office-lease market and economic effects of the World Cup.
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New York City Policy Forum @nycpolicyforum.bsky.social · 21/07/2026
With NYC's 2nd flash flood warning in 4 days, today would be a good day to read Daniel Aldana Cohen interviewing NYU Eric Klinenberg on the rise of cloudburst events & the "sponge city interventions" that could mitigate harm while improving infrastructure nycpolicyforum.substack.com/p/how-to-han...
nycpolicyforum.substack.com
How to Handle a Rain Bomb
Eric Klinenberg and Daniel Aldana Cohen discuss flash flooding and sponge infrastructure in New York City
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 17/07/2026
"Indeed, everyone seems to agree that the state added more millionaires between 2010 and 2022 even as it instituted higher taxes." www.politico.com/newsletters/...
politico.com
More grist for Mamdani’s tax the rich debate
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 17/07/2026
While the state's dashboard appears to show that outmigration increases as incomes go up—outmigration rates are in fact lowest for the top 1% of households.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 17/07/2026
Comptroller DiNapoli's new tax migration dashboard provides important data to the public. But by insufficiently disaggregating the top income bin, it masks a reversal to the high earner outmigration trend among New York’s wealthiest taxpayers. fiscalpolicy.org/new-york-com...
fiscalpolicy.org
New York Comptroller’s Taxpayer Migration Dashboard Doesn’t Tell the Full Story - Fiscal Policy Institute
Trend-monitoring tool masks sharp turnaround in outmigration rate as incomes reach the top 1%. View as PDF On July 10, the New York State Comptroller’s office unveiled a dashboard tracking the…
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Michael Pollak @mdpollak.bsky.social · 01/07/2026
This is great: 1) Why the fat cats are whining 2) What a weird thing the EDC is 3) How Zohran could use its weirdness for the people instead of the fat cats as the key component of a Helsinki-type public housing enterprise like @pewilliams.bsky.social keeps championing
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Luke Herrine @lookheron.bsky.social · 09/07/2026
I've got a piece out in @nycpolicyforum.bsky.social sketching out a progressive vision for municipal financial empowerment. It builds on Lauren Willis's foundational critiques of financial literacy as well @debtcollective.bsky.social's experiments nycpolicyforum.substack.com/p/beyond-fin...
nycpolicyforum.substack.com
Beyond Financial Literacy
Turning a Bloomberg-era program into a tool for collective power
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 09/07/2026
In @nycpolicyforum.bsky.social Luke Herrine outlines how NYC’s Office of Financial Empowerment could teach financial self-defense, not "bank propaganda." —including by hosting "rental rip-off"-style hearings to initiate disputes with predatory creditors. nycpolicyforum.substack.com/p/beyond-fin...
nycpolicyforum.substack.com
Beyond Financial Literacy
Turning a Bloomberg-era program into a tool for collective power
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New York City Policy Forum @nycpolicyforum.bsky.social · 24/06/2026
Today on our substack, in anticipation of tomorrow's Rent Guidelines Board vote, @nyfiscalpolicy.bsky.social economist Emily Eisner & Elizabeth Cooper discuss the purpose of rent regulation and the importance of getting the underlying economics right. nycpolicyforum.substack.com/p/the-econom...
nycpolicyforum.substack.com
The Economic Function of Rent Stabilization
How rent regulation corrects the housing market's structural failures
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Patriotic Millionaires @patrioticmillionaires.org · 24/06/2026
While Jalen Brunson definitely knows ball, our New York members know that the state is worth the taxes. We agree with the @nyfiscalpolicy.bsky.social that there’s a lot more to unpack when it comes to Jalen’s comment on missing Texas taxes: fiscalpolicy.org/wsj-misreadi...
fiscalpolicy.org
FPI Statement on the Wall Street Journal’s Misreading of Jalen Brunson’s Tax Remarks - Fiscal Policy Institute
Rather than indicating that the rich are overtaxed, Mr. Brunson’s trajectory is a data point in favor of a more progressive tax structure.
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New York City Policy Forum @nycpolicyforum.bsky.social · 30/06/2026
Today, Andrew Perry (@nyfiscalpolicy.bsky.social) examines the "Swiss Army Knife of NYC government": the Economic Development Corporation (EDC)--its powers, how they've been used in the past, & how they could be used to tackle the city's housing crisis nycpolicyforum.substack.com/p/nycedc-soc...
nycpolicyforum.substack.com
Stop Subsidizing Office Buildings and Stadiums, Start Building Social Housing
The EDC’s tax giveaways don't get the best deal for the City. Mayor Mamdani has a mandate to build 200,000 homes and a powerful tool to help him do it.
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Michael Pollak @mdpollak.bsky.social · 21/06/2026
Sharp piece from @emmurpheis.bsky.social , director of the @nyfiscalpolicy.bsky.social citylimits.org/opinion-the-...
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 18/06/2026
Discussion of the NBA championship has taken a turn toward fiscal policy. The Fiscal Policy Institute’s acting executive director today issued the following statement. fiscalpolicy.org/wsj-misreadi...
fiscalpolicy.org
FPI Statement on the Wall Street Journal’s Misreading of Jalen Brunson’s Tax Remarks - Fiscal Policy Institute
Rather than indicating that the rich are overtaxed, Mr. Brunson’s trajectory is a data point in favor of a more progressive tax structure.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 03/06/2026
Friday at noon, FPI's Health Policy Director Michael Kinnucan will deliver a technical briefing about healthcare in New York State's enacted budget. Join to learn about the fate of safety net hospitals, medicaid loss, the Essential Plan, and many other topics. us06web.zoom.us/webinar/regi...
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 26/05/2026
As state budget negotiations come to a close, join the Fiscal Policy Institute this Friday for analysis of the enacted budget. We'll discuss revenue updates including the pied-à-terre tax, Tier 6 pension reform, the fate of the Essential Plan, and more. RSVP —> us06web.zoom.us/webinar/regi...
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Michael Pollak @mdpollak.bsky.social · 12/05/2026
The Fiscal Policy Institute's statement on Zohran's budget fiscalpolicy.org/wp-content/u...
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 12/05/2026
With the budget on sound fiscal footing, the City of New York is well positioned to begin delivering an affordability agenda. However, achieving truly ambitious service expansions, such as universal childcare, will require additional dedicated revenue in the future. fiscalpolicy.org/statement-on...
fiscalpolicy.org
Statement on New York City’s Fiscal Year 2027 Executive Budget - Fiscal Policy Institute
With the budget on sound fiscal footing, the City is well positioned to begin delivering an affordability agenda.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 07/05/2026
However, the budget negotiations are not yet over and policymakers still have the opportunity to establish necessary healthcare and food security programs and ensure New York City receives its fair share of State funding.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 07/05/2026
Instead, the State will be spending $1 billion on energy rebates that will not sufficiently address mounting affordability issues and erode the State’s ability to step in where it matters.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 07/05/2026
There has been no meaningful effort by the Governor’s office to remedy the threats to healthcare and SNAP that protect New Yorkers’ health and safety, and the plan to support New York City remains unclear.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 07/05/2026
It allows 450,000 New Yorkers to lose their healthcare coverage this July. SNAP recipients are already beginning to lose benefits under the newly-imposed work requirements. And NYC's looming budget shortfall threatens cuts to core services.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 07/05/2026
This year, Albany has a clear mandate: prevent families from losing essential services that were severely cut by the Trump administration (Medicaid, SNAP, & the Essential Plan), deliver universal childcare statewide, & ensure that NYC remains on secure fiscal footing. This budget fails to deliver.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 07/05/2026
The budget agreement announced by Governor Hochul fails to address major federal funding cuts, leaving hundreds of thousands of New Yorkers to lose health coverage. 🧵 fiscalpolicy.org/statement-on...
fiscalpolicy.org
Statement on Governor Hochul’s Announcement of an FY27 Budget Agreement - Fiscal Policy Institute
The budget agreement will allow 450,000 New York individuals to lose their healthcare coverage this July—but negotiations are not over yet.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 28/04/2026
What is the pass-through entity tax? Our new fact sheet explains the tax, the proposed changes, and the impact of a reduced PTET credit on New York's millionaires. fiscalpolicy.org/fact-sheet-t...
fiscalpolicy.org
Fact Sheet: The Pass-Through Entity Tax - Fiscal Policy Institute
The proposed change to the Pass-Through Entity Tax credit is sharply progressive, while preserving federal tax benefits.
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Michael Pollak @mdpollak.bsky.social · 28/04/2026
Great explainer about NYC corporate tax. I see now I knew nothing, and almost everything said in the papers is dead wrong, sometimes on purpose. But it's pretty simple and quite surprising.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 23/04/2026
NEW: NY Legislature's proposed corporate taxes are unlikely to substantially impact large businesses. Corporations could not avoid state tax liability even if they were to move employees or HQs. Tax flight alarmists misunderstand business taxation. fiscalpolicy.org/corporate-ta...
fiscalpolicy.org
Corporate Tax Will Have Negligible Impact on Large Corporations - Fiscal Policy Institute
Because the corporate tax is based on the sales firms make in New York City, fears of corporate tax flight are misplaced.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 17/04/2026
The Trump admin seems to think providing home care is too expensive. But cutting it would be extremely unpopular. Instead, they are trying to achieve that policy objective through executive action, by making unfounded allegations of widespread fraud.
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 16/04/2026
"The Fiscal Policy Institute found that the wealthiest New Yorkers leave at 1/4th the rate of other New Yorkers" —Mayor Mamdani Read the full remarks from the Tax Day policy forum with economists Gabriel Zucman and Joseph Stiglitz nycpolicyforum.substack.com/p/tax-the-rich
nycpolicyforum.substack.com
Tax the Rich | NYC Policy Forum
A Tax Day discussion with Mayor Zohran Mamdani and economists Joseph Stiglitz and Gabriel Zucman
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Fiscal Policy Institute @nyfiscalpolicy.bsky.social · 15/04/2026
This is an important step toward addressing NYC's affordability crisis. But it cannot stem the current budget shortfall or enable needed investment in infrastructure. Lawmakers must to look toward broad-based solutions such as the personal income & corporate tax. fiscalpolicy.org/statement-on...
fiscalpolicy.org
Statement on the New York City Pied-à-Terre Tax - Fiscal Policy Institute
Negotiated tax between Mayor and Governor raises progressive revenue but falls short of broad-based revenue needs
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New York City Policy Forum @nycpolicyforum.bsky.social · 14/04/2026
If you missed our event on "Enforcing the Affordability Agenda" w/ Bhairavi Desai (Taxi Workers Alliance), Rich Maroko (Hotel Gaming & Trades), Izzy Melendez (SEIU), Sam Levine (DCWP), & Stephanie Luce (CUNY SLU), the video & excerpts are now on our substack! open.substack.com/pub/nycpolic...
open.substack.com
The Power to Pass a Law. The Power to Enforce It.
NYC just passed just cause for drivers, a Safe Hotels Act, and security guard wage protections. Now the real fight begins. Excerpts from Bhairavi Desai, Izzy Melendez, Commissioner Sam Levine, & more
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