"...a group that has such a long and distinguished record in identifying and addressing crucial issues affecting the governments of the city and state of New York." Federal Reserve Chairman Ben S. Bernanke
Mayor Michael Bloomberg is poised to announce which university has been selected to develop an applied science and engineering campus in New York City. The City of New York will provide land and infrastructure investments worth up to $100 million to the winner. Time will tell whether the campus will serve as the catalyst for transforming the New York metropolitan area into the
This report assesses how New York compares to other cities in pursuing green objectives and suggests how New York’s leaders can set priorities for taking additional steps to promote environmental goals in ways that align with goals of economic growth and urban competitiveness.
The CBC today released a report that examines New York City’s green policies from the perspective of urban competitiveness, not exclusively in terms of promoting environmental sustainability.
This testimony by CBC Deputy Research Director Elizabeth Lynam emphasizes two key points about New York’s personal income tax and offers a framework for thinking about tax reform in the current fiscal context: 1) New York’s personal income tax is progressive, but its overall tax structure is not; and 2) New York’s economic competitiveness should be an important factor in considering changes to
CBC released a letter that was sent to the New York State Legislature containing “10 Do’s and Don’ts” for spending the estimated $4.8 billion in federal stimulus funds allocated to New York State for use in budget relief in fiscal year 2009-10. The letter briefly outlines the 10 rules and cautions that the funds need to be wisely spent over the next two years.
This letter to the State Legislature, written in conjunction with the NYS AFL-CIO, the Metropolitan Development Association of Syracuse and Central New York and the Partnership for New York City, is in support of Governor David Paterson's proposal to scale back the almost $600 million-a-year Empire Zone Program.
CBC Deputy Research Director Elizabeth Lynam testifies to a Joint Hearing of the Senate Committee on Local Government and the Assembly Committee on Real Property Taxation. To fund more appropriate taxpayer relief mechanisms the Middle Class STAR program should be replaced with an improved circuit breaker.
CBC supports the recommendations of the Local Property Tax Relief Commission. Local property taxes in New York State are far too high, and the State needs to stop forcing costs onto local communities that can no longer afford them. High local taxes are in part driven by an undue burden placed on municipalities by the State.
This report focuses on state and local business taxes in New York City, showing that those taxes are dramatically higher than comparable taxes for key competitors. Combined federal, state, and local taxes reduce the rate of return on new business investment in New York City significantly – about 36-50 percent, depending on location and industry.
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