On May 21, 2009, the Select Committee on Budget and Tax Reform held a public hearing in New York City to evaluate the equitability of New York State's business and banking tax structures and their effectiveness to foster economic growth statewide. The Select Committee heard oral testimony from 10 experts and collected written testimony from several other interested parties.
Below are links for the testimony that was submitted to the Select Committee. The Select Committee's staff will issue a report detailing the key findings and conclusions from the testimony.
The Select Committee on Budget and Tax Reform hears testimony at a New York City public hearing, where experts evaluated the fairness of the state's business and banking taxes and their effectivess at fostering job growth. Part two of two.
The Select Committee on Budget and Tax Reform hears testimony at a New York City public hearing, where experts evaluated the fairness of the state's business and banking taxes and their effectivess at fostering job growth. Part one of two.
The Select Committee on Budget and Tax Reform has received a staff report detailing the key findings and conclusions from its public hearings on New York State’s businesses tax in Rochester on April 30 and New York City on May 21.
(Albany, NY) – In an effort to help homeowners who are fighting foreclosure, State Senator Liz Krueger successfully sponsored and passed new legislation (S7798A) which would amend the New York State Foreclosure Prevention and Responsible Lending Act to further ensure that homeowners have an adequate opportunity to prevent foreclosure through fair, good-faith judiciary hearings.
(New York, NY) On Wednesday, August 25th 2010, New York State Senator Liz Krueger, joined by State Senator Jeff Klein, Assembly Member Hakeem Jeffries, City Council Member Brad Lander and New York Communities for Change (NYCC), held a press conference to announce legislation that is aimed at holding banks responsible for foreclosed homes in New York, while also pressing banks to avoid the foreclosure process by coming to the negotiation table early enough to modify loans. The proposed legislation emphasizes the importance of banks responsibly maintaining foreclosed homes if they cannot offer a viable mortgage modification to families in need.
Once again our leaders in Washington are fighting over cuts to the deficit, while our economy teeters on the brink of a "double dip" recession. At the federal, state, and local levels, the focus is on cutting programs rather than increasing revenues. But what many of these leaders have chosen to ignore is the fact that this strategy will have radical macro and micro economic and political consequences for decades to come.
Albany, NY – State Senator Liz Krueger (D-Manhattan) today announced the passage of her legislation permanently banning “yield spread premiums” in New York State (S. 886). This practice created perverse incentives in the mortgage market, fleecing families and creating instability in the nation’s financial system, ultimately contributing to the national mortgage foreclosure crisis.