#NYcoronavirus: The outlook for New York's economy is the grimmest on record, according to the first post-pandemic lockdown round of credible economic surveys and forecasts. Start with the Federal Reserve Bank of New York, whose regional economists today issued a notably pessimistic report based on their monthly Empire State Manufacturing Survey and a broader Business Leaders Survey that take sin the northern New Jersey and metropolitan New York. Read More
“We are at the early stages of what shapes up as the biggest state and city fiscal crisis since the Great Depression,” said E.J. McMahon of the Empire Center. “Borrowing and short-term cuts aside, the budget doesn’t chart any clear path out of it.” Read More
Bill Hammond, director of health policy at the conservative-leaning think tank the Empire Center, suggested this is because the proposed cuts are meant to slow the otherwise rapid growth in Medicaid spending, which means an increase is still possible. Read More
New York State residents pay some of the highest local taxes in the nation. To help New Yorkers compare some of the basic fiscal measures for local governments, the Empire Center for Public Policy continues to calculate effective property tax rates and per-capita values for the spending, debt and tax levels of counties, cities, towns, villages and school districts throughout the state, excluding only New York City. Read More
The Empire Center today released its annual “Benchmarking New York” report, comparing and ranking government tax, spending and debt levels for hundreds of counties, towns, cities and villages throughout New York. Read More
But according to the Empire Center, a non-profit group based in Albany, the overall impact of the Trump tax cuts actually benefited most state residents. Read More
Sen. James Skoufis, D-Newburgh, had $134,858 in staff and member office expenses during his first three months in the Senate, the most among newly elected members of that house, according to data posted today at SeeThroughNY.net, the Empire Center’s transparency website. Read More
The billions of dollars funneled from New York's treasury to movie and TV producers had no statistically significant impact on the industry's employment in the Empire State through 2017, according to a new multi-state study of such tax incentives. Read More