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Article Artículo

Economic Growth

United States

Workers

NYers: 3 Ways You Can Fight Federal Tax Penalties

What do you call a policy fix that makes it easier to fund social programs and public services for all New Yorkers, saves the state of New York $7 billion annually, and is as easy to implement as unemployment insurance or workers’ compensation? It’s called the employer-side payroll tax, championed by CEPR’s senior economist, Dean Baker. We refer to it as the #TaxLawHack.

New York just adopted a voluntary version of the employer-side payroll tax. It’s New York’s smart tool to sidestep the recent federal tax law, which penalizes liberal-leaning states in an attempt to force cuts to quality state-level social services. But, like all change, this new law is being met with some hesitancy, skepticism and criticism.

It’s up to New York’s fearless early adopters to help keep the state’s public services funded. If you want to show the world how to fight back against GOP tax penalties, then tell your employer: “I want my #TaxLawHack!”

April 23, 2018