Fiscal Policy Institute
@nyfiscalpolicy.bsky.social
An independent, nonpartisan think tank that advances sound and equitable fiscal policy to strengthen New York’s economy.
www.fiscalpolicy.org
www.fiscalpolicy.org
Reposted by Fiscal Policy Institute
Will taxing the rich spur them to flee New York?
No.
"There was no notable increase in out-migration among high earners following the State’s 2021 increases to the top Personal Income Tax rates. These higher tax rates raise approximately $3.6 billion annually"—
@nyfiscalpolicy.bsky.social
No.
"There was no notable increase in out-migration among high earners following the State’s 2021 increases to the top Personal Income Tax rates. These higher tax rates raise approximately $3.6 billion annually"—
@nyfiscalpolicy.bsky.social
November 19, 2025 at 4:14 PM
Will taxing the rich spur them to flee New York?
No.
"There was no notable increase in out-migration among high earners following the State’s 2021 increases to the top Personal Income Tax rates. These higher tax rates raise approximately $3.6 billion annually"—
@nyfiscalpolicy.bsky.social
No.
"There was no notable increase in out-migration among high earners following the State’s 2021 increases to the top Personal Income Tax rates. These higher tax rates raise approximately $3.6 billion annually"—
@nyfiscalpolicy.bsky.social
On average, Trump's OBBBA will give the equivalent of a $129,600 annual tax cut to each millionaire in New York next year—2.7% of their total income.
New York’s Millionaires Will Get a $12 Billion Federal Tax Cut Next Year - Fiscal Policy Institute
OBBBA will save New York taxpayers who earn $1 million in annual income a collective $12 billion in federal taxes each year.
fiscalpolicy.org
November 20, 2025 at 8:59 PM
On average, Trump's OBBBA will give the equivalent of a $129,600 annual tax cut to each millionaire in New York next year—2.7% of their total income.
“The top 1% just received a trillion-dollar federal tax cut. It’s only fair that they now pay a little bit more to make New York City affordable" — on the Mayor-elects' proposed 2 percentage point rate hike on those making more than $1 million a year
New York Mayor-elect Zohran Mamdani campaigned on an ambitious—and expensive—platform. We break down the numbers.
The Economics Behind Zohran Mamdani’s Biggest Plans
New York’s mayor-elect has promised ambitious social programs funded primarily through higher taxes on businesses and the city’s highest earners. We break down the numbers.
on.wsj.com
November 6, 2025 at 9:13 PM
“The top 1% just received a trillion-dollar federal tax cut. It’s only fair that they now pay a little bit more to make New York City affordable" — on the Mayor-elects' proposed 2 percentage point rate hike on those making more than $1 million a year
With SNAP cuts looming, @governor.ny.gov just pledged an additional $65M to fund charitable food assistance.
However, on Saturday 3 million New Yorkers, including 1,000,000 children, who rely on SNAP for food security will lose $640M per month in benefits, triggering a hunger crisis in NY. 1/2
However, on Saturday 3 million New Yorkers, including 1,000,000 children, who rely on SNAP for food security will lose $640M per month in benefits, triggering a hunger crisis in NY. 1/2
Governor Hochul Commits $106 Million to Fighting Hunger During Federal Shutdown - Fiscal Policy Institute
With the federal shutdown entering its thirtieth day, it is now expected that federal funding for SNAP benefits (food stamps) will run out at the end of October. This morning, Governor Hochul announce...
fiscalpolicy.org
October 30, 2025 at 7:41 PM
With SNAP cuts looming, @governor.ny.gov just pledged an additional $65M to fund charitable food assistance.
However, on Saturday 3 million New Yorkers, including 1,000,000 children, who rely on SNAP for food security will lose $640M per month in benefits, triggering a hunger crisis in NY. 1/2
However, on Saturday 3 million New Yorkers, including 1,000,000 children, who rely on SNAP for food security will lose $640M per month in benefits, triggering a hunger crisis in NY. 1/2
Reposted by Fiscal Policy Institute
NYSNA members welcomed Ulster County Exec. @jenmetzgerny.bsky.social, Michael Kinnucan @nyfiscalpolicy.bsky.social, Juanita O. Lewis
@cvhaction.bsky.social for a powerful panel on the impact of the federal healthcare cuts.
@cvhaction.bsky.social for a powerful panel on the impact of the federal healthcare cuts.
October 29, 2025 at 12:46 PM
NYSNA members welcomed Ulster County Exec. @jenmetzgerny.bsky.social, Michael Kinnucan @nyfiscalpolicy.bsky.social, Juanita O. Lewis
@cvhaction.bsky.social for a powerful panel on the impact of the federal healthcare cuts.
@cvhaction.bsky.social for a powerful panel on the impact of the federal healthcare cuts.
"Now that we have enough data to study the 2021 tax increase, that increase did not lead to more out-migration for high earners." —@emmurpheis.bsky.social in today's Morning Spew
Did New York's last big tax increase on the wealthy actually drive our millionaires to Florida?
No, absolutely not, says a new study.
And other links to start your day!
hellgatenyc.com/the-myth-of-...
No, absolutely not, says a new study.
And other links to start your day!
hellgatenyc.com/the-myth-of-...
The 'Myth' of the Fleeing NY Millionaire
And other links to start your day Tuesday.
hellgatenyc.com
October 14, 2025 at 9:24 PM
"Now that we have enough data to study the 2021 tax increase, that increase did not lead to more out-migration for high earners." —@emmurpheis.bsky.social in today's Morning Spew
🚨New Tax Data Confirm Tax Flight Is A Myth:
Analysis of new tax data shows that the 2021 tax increases on high earners raise an estimated $3.6 billion annually, boosting state revenue without triggering increased out-migration among high earners.
fiscalpolicy.org/new-tax-data...
Analysis of new tax data shows that the 2021 tax increases on high earners raise an estimated $3.6 billion annually, boosting state revenue without triggering increased out-migration among high earners.
fiscalpolicy.org/new-tax-data...
October 9, 2025 at 9:24 PM
🚨New Tax Data Confirm Tax Flight Is A Myth:
Analysis of new tax data shows that the 2021 tax increases on high earners raise an estimated $3.6 billion annually, boosting state revenue without triggering increased out-migration among high earners.
fiscalpolicy.org/new-tax-data...
Analysis of new tax data shows that the 2021 tax increases on high earners raise an estimated $3.6 billion annually, boosting state revenue without triggering increased out-migration among high earners.
fiscalpolicy.org/new-tax-data...
We're proud to have worked with the AFL-CIO to reform this system—convincing the State to pay down its $7B debt, raise the maximum weekly UI benefit rate, and expand the taxable wage base to increase the fund’s long-term fiscal stability. www.cityandstateny.com/policy/2025/...
Weekly unemployment insurance benefits set to increase
The maximum unemployment insurance benefit rate from $504 per week to $869 per week beginning, now that the state has paid off its unemployment trust fund debt.
www.cityandstateny.com
October 9, 2025 at 2:34 PM
We're proud to have worked with the AFL-CIO to reform this system—convincing the State to pay down its $7B debt, raise the maximum weekly UI benefit rate, and expand the taxable wage base to increase the fund’s long-term fiscal stability. www.cityandstateny.com/policy/2025/...
Rent increases are contributing to an affordability crisis in NYC. A new factsheet from @cssnyorg.bsky.social draws on our RGB testimony to show that hikes for rent-stabilized tenants under Adams and Bloomberg have caused rents to outpace the cost of other goods. www.cssny.org/publications...
Stabilized Rents Up 12.6% in Adams’ New York
www.cssny.org
September 30, 2025 at 7:34 PM
Rent increases are contributing to an affordability crisis in NYC. A new factsheet from @cssnyorg.bsky.social draws on our RGB testimony to show that hikes for rent-stabilized tenants under Adams and Bloomberg have caused rents to outpace the cost of other goods. www.cssny.org/publications...
New data from the US Census Bureau & Bureau of Labor Statistics show rising income inequality in New York. Top earners are driving strong wage growth, while low- and middle-income households lag behind. (1/6)
The U.S. economy probably added half as many jobs in the 12 months ending in March as previously reported, according to the preliminary benchmark revision data released by the Bureau of Labor Statistics on Tuesday. #NumbersDay
www.nytimes.com/2025/09/09/b...
www.nytimes.com/2025/09/09/b...
September 11, 2025 at 7:45 PM
New data from the US Census Bureau & Bureau of Labor Statistics show rising income inequality in New York. Top earners are driving strong wage growth, while low- and middle-income households lag behind. (1/6)
🚨NY health insurance premiums are set to rise by 13% for small businesses — on track to double by 2031. Small group markets in some areas may be facing a death spiral. (1/7)
September 9, 2025 at 8:04 PM
🚨NY health insurance premiums are set to rise by 13% for small businesses — on track to double by 2031. Small group markets in some areas may be facing a death spiral. (1/7)
Today, FPI is releasing two reports on how to understand the impact of federal funding cuts in New York.
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
July 25, 2025 at 9:46 PM
Today, FPI is releasing two reports on how to understand the impact of federal funding cuts in New York.
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
Reposted by Fiscal Policy Institute
Importantly, our estimates of the funding cuts are *much* higher than the State has announced. We explain why in the two reports.
Report 1: fiscalpolicy.org/the-state-is...
Report 2: fiscalpolicy.org/making-sense...
Report 1: fiscalpolicy.org/the-state-is...
Report 2: fiscalpolicy.org/making-sense...
July 25, 2025 at 9:42 PM
Importantly, our estimates of the funding cuts are *much* higher than the State has announced. We explain why in the two reports.
Report 1: fiscalpolicy.org/the-state-is...
Report 2: fiscalpolicy.org/making-sense...
Report 1: fiscalpolicy.org/the-state-is...
Report 2: fiscalpolicy.org/making-sense...
Reposted by Fiscal Policy Institute
Today, @nyfiscalpolicy.bsky.social is releasing two reports on how to understand the impact of federal funding cuts in New York.
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
July 25, 2025 at 9:42 PM
Today, @nyfiscalpolicy.bsky.social is releasing two reports on how to understand the impact of federal funding cuts in New York.
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
Key points: 1) the cuts amount to over $20bn annually by 2030, 2) 1.5 million NYers will lose healthcare, 3) FPI advises a special session to remedy (1) and (2).
Reposted by Fiscal Policy Institute
New York stand stands to lose a lot in this budget bill. @nyfiscalpolicy.bsky.social has written about job loss, healthcare access, food assistance, and economic harm.
July 1, 2025 at 7:23 PM
New York stand stands to lose a lot in this budget bill. @nyfiscalpolicy.bsky.social has written about job loss, healthcare access, food assistance, and economic harm.
Reposted by Fiscal Policy Institute
Analysis from me and Michael Kinnucan at @nyfiscalpolicy.bsky.social showed that New York could lose 215k jobs due to medicaid cuts coming from the house bill... the senate bill is an even more severe cut for NY ie. more jobs lost.
fiscalpolicy.org/new-york-emp...
fiscalpolicy.org/new-york-emp...
July 1, 2025 at 7:27 PM
Analysis from me and Michael Kinnucan at @nyfiscalpolicy.bsky.social showed that New York could lose 215k jobs due to medicaid cuts coming from the house bill... the senate bill is an even more severe cut for NY ie. more jobs lost.
fiscalpolicy.org/new-york-emp...
fiscalpolicy.org/new-york-emp...
FPI's Emily Eisner on the cruel and economically damaging impacts of cuts to SNAP in the federal budget reconciliation bill.
July 1, 2025 at 6:46 PM
FPI's Emily Eisner on the cruel and economically damaging impacts of cuts to SNAP in the federal budget reconciliation bill.
Join NOW at 12:30pm on Friday May 9 for a discussion of the NY State budget with FPI experts.
us06web.zoom.us/webinar/regi...
us06web.zoom.us/webinar/regi...
Welcome! You are invited to join a webinar: FPI's Fiscal Update: The State Budget. After registering, you will receive a confirmation email about joining the webinar.
This Friday, 5/9, at 12:30 pm, the Fiscal Policy Institute will present a briefing on its initial analysis of the New York State budget. Budget bills are out, and FPI will provide its analysis of the ...
us06web.zoom.us
May 9, 2025 at 4:32 PM
Join NOW at 12:30pm on Friday May 9 for a discussion of the NY State budget with FPI experts.
us06web.zoom.us/webinar/regi...
us06web.zoom.us/webinar/regi...
Reposted by Fiscal Policy Institute
At 12:30pm today, @nyfiscalpolicy.bsky.social will give an update on the NY state budget.
Please join if you're interested!
us06web.zoom.us/webinar/regi...
Please join if you're interested!
us06web.zoom.us/webinar/regi...
Welcome! You are invited to join a webinar: FPI's Fiscal Update: The State Budget. After registering, you will receive a confirmation email about joining the webinar.
This Friday, 5/9, at 12:30 pm, the Fiscal Policy Institute will present a briefing on its initial analysis of the New York State budget. Budget bills are out, and FPI will provide its analysis of the ...
us06web.zoom.us
May 9, 2025 at 3:15 PM
At 12:30pm today, @nyfiscalpolicy.bsky.social will give an update on the NY state budget.
Please join if you're interested!
us06web.zoom.us/webinar/regi...
Please join if you're interested!
us06web.zoom.us/webinar/regi...
New Op-Ed in the NY Daily News today:
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
April 27, 2025 at 7:27 PM
New Op-Ed in the NY Daily News today:
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
Reposted by Fiscal Policy Institute
New Op-Ed for me and Nathan Gusdorf of @nyfiscalpolicy.bsky.social in the NY Daily News today:
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
April 27, 2025 at 7:24 PM
New Op-Ed for me and Nathan Gusdorf of @nyfiscalpolicy.bsky.social in the NY Daily News today:
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
"Albany Must Prep for Federal Cuts"
NY policymakers must reject tax cuts and the irresponsible "inflation refund" and instead invest in real affordability for New Yorkers.
Reposted by Fiscal Policy Institute
Excellent Op-Ed in the Times Union yesterday by Ian Greer at @cornellilr.bsky.social: "New York must get serious about fixing Unemployment Insurance"
Cites to FPI's proposal for UI reform in NY.
www.timesunion.com/opinion/arti...
Cites to FPI's proposal for UI reform in NY.
www.timesunion.com/opinion/arti...
Commentary: New York must get serious about fixing Unemployment Insurance
Proposals being floated by state leaders do nothing to tackle the root causes of the system’s insolvency and would soon lead to more debt.
www.timesunion.com
April 22, 2025 at 1:19 PM
Excellent Op-Ed in the Times Union yesterday by Ian Greer at @cornellilr.bsky.social: "New York must get serious about fixing Unemployment Insurance"
Cites to FPI's proposal for UI reform in NY.
www.timesunion.com/opinion/arti...
Cites to FPI's proposal for UI reform in NY.
www.timesunion.com/opinion/arti...
Happening today!
This Thursday, 4/17 at 12:30pm, the Fiscal Policy Institute is hosting the first in a series of Federal Policy Updates.
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
Welcome! You are invited to join a webinar: FPI's Federal Policy Update. After registering, you will receive a confirmation email about joining the webinar.
The Trump administration has already cut federal funding to New York through executive action, and the reconciliation bill progressing through Congress may include deeper cuts. Meanwhile, Trump's trad...
us06web.zoom.us
April 17, 2025 at 1:45 PM
Happening today!
Reposted by Fiscal Policy Institute
This Thursday, 4/17 at 12:30pm, the Fiscal Policy Institute is hosting the first in a series of Federal Policy Updates.
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
Welcome! You are invited to join a webinar: FPI's Federal Policy Update. After registering, you will receive a confirmation email about joining the webinar.
The Trump administration has already cut federal funding to New York through executive action, and the reconciliation bill progressing through Congress may include deeper cuts. Meanwhile, Trump's trad...
us06web.zoom.us
April 14, 2025 at 6:38 PM
This Thursday, 4/17 at 12:30pm, the Fiscal Policy Institute is hosting the first in a series of Federal Policy Updates.
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
This Thursday, 4/17 at 12:30pm, the Fiscal Policy Institute is hosting the first in a series of Federal Policy Updates.
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
Welcome! You are invited to join a webinar: FPI's Federal Policy Update. After registering, you will receive a confirmation email about joining the webinar.
The Trump administration has already cut federal funding to New York through executive action, and the reconciliation bill progressing through Congress may include deeper cuts. Meanwhile, Trump's trad...
us06web.zoom.us
April 14, 2025 at 6:39 PM
This Thursday, 4/17 at 12:30pm, the Fiscal Policy Institute is hosting the first in a series of Federal Policy Updates.
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...
We expect to hold these updates on a bi-weekly basis.
Primarily for policymakers, advocates, and labor leaders in New York
Register at the link:
us06web.zoom.us/webinar/regi...