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Blog
Taxes
Personal Income Tax Revenues in New York State and City
August 13, 2019
PIT revenues are a significant - and volatile - part of State and City budgets.
Special Feature
City Budget
Facts About The NYC Budget
May 13, 2019
A snapshot of NYC's budget, including projections for spending, headcount, savings, liabilities, and revenue shortfalls in case of a recession.
Blog
Taxes
Follow the Money
April 05, 2019
The NYS Adopted FY 2020 Budget directs three revenue sources to support the MTA. This blog clarifies what the revenue streams are and how they will flow to the lockbox.
Blog
Taxes
Pied-à-Terre Tax
March 13, 2019
The pied-à-terre tax is appealing politically because it is levied on wealthy people with means to pay and nonresidents who do not vote. Nevertheless, it is problematic for several reasons.
Blog
City Budget
NYC Revenues in a Recession
February 26, 2019
The potential shortfall from a recession comparable to the last two recessions could be substantial: between $15 billion and $20 billion below projections over three years.
Blog
State Budget
Don’t Get Too High on Potential Marijuana Revenues
December 13, 2018
There is significant revenue potential from the marijuana industry, but research suggests that many months or years of careful planning precede consistent revenues.
Testimony
Taxes
New York City Property Tax Reform
November 27, 2018
CBC makes recommendations for property tax reform to fix problems with transparency and equity of the system.
Podcast episode
Taxes
Episode 59: 1981
November 16, 2018
1981 is the year in which the State Legislature enacted S7000A, the landmark law that established the current property tax system for New York City. The problems with the property tax system have led to repeated calls for reform, including pending litigation. This past May, Mayor de Blasio and Speaker Johnson formed the Advisory Commission on Property Tax Reform. In September, the Citizens Budget Commission, the Regional Plan Association, and NYU Robert Wagner School of Public Service held a panel to discuss the problem, inequities and potential reforms
Video
Taxes
The New York City Property Tax
September 13, 2018
NYC Advisory Commission on Property Tax Reform is charged with recommending reforms to make the NYC property tax fairer, simpler, and more transparent. CBC, the Regional Plan Association, and NYU Wagner convened a panel to discuss the current property tax system and the reforms that should be pursued.
Blog
Taxes
New York City Homeowners
September 12, 2018
One of the basic principles of good tax policy is equity: similarly situated taxpayers should have similarly sized tax bills. New York City’s property tax system does not comport with this principle.
Letter
Taxes
New York State Should Create an Unincorporated Business Tax
July 26, 2018
A UBT is needed to blunt the impact of federal tax reform; here are CBC's recommendations for designing it.
Statement
State Budget
Statement on the NYS FY2019 Budget
March 31, 2018
The budget gap will be closed using short-term measures instead of restraint in and reform of spending commitments.
Statement
State Budget
CBC Urges State Leaders to Respond to the Federal Tax Cuts and Jobs Act To Promote Competitiveness and Protect New Yorkers
March 26, 2018
With budget negotiations in the final push, here's what State leaders should do now and in months to come.
Op Ed
Transportation
Latest value capture proposal could harm NYC
March 22, 2018
While value capture makes sense in theory, any such arrangement should be tailored to specific projects and circumstances - with the agreement of the City.
Letter
State Budget
Significant Impacts the Tax Cuts and Jobs Act on the Residents and Revenues of New York State
March 20, 2018
I write to convey the Citizens Budget Commission’s findings about the significant impacts the Tax Cuts and Jobs Act (TCJA) will have on the residents and revenues of New York City and New York State and recommended steps needed to address these problems.
Letter
Taxes
Significant Impacts the Tax Cuts and Jobs Act on the Residents and Revenues of New York City
March 20, 2018
I write to convey the Citizens Budget Commission’s findings about the significant impacts the Tax Cuts and Jobs Act (TCJA) will have on the residents and revenues of New York City and New York State and recommended steps needed to address these problems.
Press Release
State Budget
CBC Recommends Strategies to Mitigate Federal Tax Law Threat to New York's Competitiveness and New Yorkers
March 19, 2018
The CBC released a comprehensive report detailing the massive impacts the Tax Cuts and Jobs Act will have on the residents and revenues of New York State, as well as the steps needed to address these problems.
Report
Taxes
Practical Policy in Challenging Circumstances:
March 18, 2018
Strategies to mitigate the federal tax law's threat to New York's competitiveness and New Yorkers' wallets.
Video
State Budget
NYS Budget Director Robert Mujica (2018)
February 15, 2018
NYS Budget Director Robert Mujica presents the annual New York State Executive Budget Briefing to CBC.
Statement
Taxes
CBC Statement on Governor's 30-Day Amendments in Response to Federal Tax Legislation
February 12, 2018
The Governor's proposals represent bold and important steps to address the negative impacts the federal tax law will have on New Yorkers and to maintain New York's competitive position.