New York State is at a crossroads. Our tax structure is scheduled to change in a way that will render state revenues inadequate for the budget years ahead. Hundreds of thousands of households struggle to pay property tax bills that represent an inordinate share of their incomes. And, in the aftermath of the Great Recession, far too many New Yorkers are still looking for jobs as good as the ones they used to have.
What can be done? What strategies can we pursue that will increase revenues to preserve the services that support New Yorkers’ quality of life and make it possible for families to move up the socioeconomic ladder—and that will, at the same time, make the tax system fairer?