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Stability and Volatility in New York's Income Tax: Testimony of Donald J. Boyd Before the New York State Senate Select Committee on Budget and Tax Reform

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Publication Date: March 2009

Publisher(s): Nelson A. Rockefeller Institute of Government

Author(s): Donald J. Boyd

Topic: Banking and finance (Taxation and tax policy)
Government (State or regional government)

Keywords: Income Tax; Tax Reform

Type: Testimony

Coverage: New York

Abstract:

As New York legislators consider raising the income tax on high-income earners, Institute Senior Fellow Donald J. Boyd testified on the issue before a Senate committee. Noting that tax policies involve trade-offs, Boyd said the proposal would raise billions for spending that could benefit the economy, but could also fuel undesirable volatility in revenue.