April State Income Tax Returns, Always a Wild Card, Likely to be Weak in Many States
April income tax returns are always uncertain for states, sometimes providing pleasant revenue surprises and sometimes
unpleasant ones. These returns often are related to the stock market and capital gains in the prior year, and to
estimated payments of tax. A new By the Numbers Brief says both indicators suggest that this year’s returns could be
Blinken Report: Gambling Not a Solution to State Revenue Woes
States turning to gambling as a quick fix for revenue woes have been disappointed with the results, according to a new study from the Rockefeller Institute. The study warns that “State officials considering expansion of existing gambling activities or legalization of new activities should weigh the pros and cons carefully.”
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Study to Enhance Applied Learning Opportunities for Students
SUNY and the Rockefeller Institute have released a research report and a supplement on applied learning at colleges and universities world-wide. According to SUNY Chancellor Nancy L. Zimpher, "With this research in hand, SUNY will continue expanding internships, cooperative education, clinical placements, service learning and other valuable work-based learning experiences for students and partnering with our colleagues across New York to ensure that the state's workforce needs can be met by SUNY graduates."
ACA Implementation Research Network
Twenty-Six Baseline Reports In, with More to Come
The Rockefeller Institute of SUNY, the Brookings Institution, and the Fels Institute of the University of Pennsylvania are coordinating a network of indigenous field researchers in 40 states to analyze the implementation of the Affordable Care Act, which aims to provide objective reports that can assist the public, governments, service providers, and experts in the process of reforming American health care. To date, 26 baseline state reports have been published, along with two regional overview reports on state experiences in the West and the South. To access the reports, go to the link below and click on the map for the states that have issued reports.
Softening Third-Quarter Growth in State Taxes, Weak Forecasts for Fiscal 2016 and 2017
State tax revenue growth slowed in the third quarter of 2015, a trend that is expected to continue in the remainder of fiscal year 2016 and into 2017 according to the latest State Revenue Report. Fluctuations in the stock market and the drop in oil prices are two of the reasons that these trends likely will continue into the future.
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Historic Decline in Oil and Coal Prices Hammers State Tax Revenue
Oil has dropped from an average of $99 per barrel in 2014 to below $30 this January, the lowest level in the last 12 years. Coal prices have also fallen significantly. While lower prices are good for consumers, they are particularly bad for the economies and finances of oil- and mineral-dependent states. Total tax revenues for these states have declined by 3.2 percent, while the remaining 42 states have reported 6.5 percent growth in total tax revenues.
Rockefeller Institute Launches Constitutional Convention Educational Website
The Rockefeller Institute has launched a Constitutional Convention web portal on its site. It can be found at http://www.rockinst.org/nys_concon2017/ . The new web portal offers citizens objective information on the background and history behind the constitutional convention. The material on the site represents the collective nonpartisan educational efforts of the state’s foremost authorities on the New York State Constitution and the convention process.
Stock Market Hits Pound Public Pension Performance
Investment shortfalls in the July-September quarter of 2015 caused unfunded state and local government pension liabilities to increase by $268 billion, reaching $1.7 trillion, according to a By the Numbers Brief of the Rockefeller Institute. In the last 25 years, unfunded liabilities have increased by 1.4 percent or more of GDP in 13 quarters, while these liabilities have fallen by 1.4 percent or more in just two quarters. Given the significant stock market declines since the start of the year, further substantial increases in unfunded liabilities are likely.
Report Highlights Trends in Medicaid Expansion
The Kaiser Family Foundation and the Rockefeller Institute compare the demographic, fiscal, and economic characteristics of states that have expanded Medicaid and those that have not. To date, 30 states and the District of Columbia have adopted the Medicaid expansion, while the remaining 20 states have rejected expansion or are still debating the issue.
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About the Open Health Data, Open Opportunities Workshop
How can releasing millions of data points improve the health of New Yorkers? This interactive workshop brought together researchers and practitioners to explore how open health data can be a viable new resource for health research and developing innovative health interventions.