Update on New York’s Unemployment Insurance Trust Fund: Challenges Continue
ECONOMIC AND POLICY INSIGHTS
The devastating job losses caused by the COVID-19 pandemic led to a record number of unemployment insurance (UI) claims in New York, necessitating borrowing from the federal government beginning in May 2020. Two years later, the State’s UI debt has remained stubbornly high despite steady employment gains and state tax rates that have already increased to maximum permissible levels. Absent federal or state significant action, interest costs will mount and employers federal taxes will also grow.
COVID-19 Relief Program Tracker
BILLIONS IN NEW FEDERAL DOLLARS FLOWING TO NEW YORK
This tool monitors spending of federal recovery aid and COVID-19 relief programs in the State. The dashboard explains each federal and State program, and how much has been received and spent to date. The data is updated monthly and New Yorkers can use the tool to understand how federal aid is used and to inform future conversations about budget priorities.
Open Book New York
SEARCH STATE AND LOCAL GOVERNMENT FINANCIAL RECORDS
Comptroller DiNapoli wants New Yorkers to know how their tax dollars are spent. Without transparency in government, there cannot be accountability. Open Book New York provides comprehensive financial data on State contracts, payments, spending and more.