02 Jul
New York Related News, News

Grassi | New York State Budget Bill Passed with Numerous Changes

New York’s recently enacted Fiscal Year 2027 State Budget, signed into law on May 28, 2026, approved significant tax law changes for both personal and business taxes. Although the Bill preserves NY’s business tax rates, several major law changes could meaningfully impact 2025 tax returns and prospective tax planning. Below is a summary of the key provisions. RATES REMAIN UNCHANGED New York’s personal income and business tax rates remain unchanged in the Bill. The 7.25% corporate franchise rate on business income...

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29 Jun
New York Related News, News

New York State Governor | Governor Hochul Makes an America250 Announcement

A rush transcript of the Governor's remarks is available below: Finally arrived, and we are so excited to be here. So many months, years of anticipation, preparation, and I want to thank Chris for his leadership and making sure everything works perfectly. Right, Chris? Where'd you go? Okay, there we go. So it’s in good hands, but the President of Sail4th 250 is of course, a once in a lifetime opportunity – nobody else has had the job before...

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06 Nov
Member News, New York Related News

Trepp | Mamdani Spells Trouble for NYC Multifamily Owners

Zohran Mamdani, the winner of New York City's mayoral election, has proposed freezing rents at the city's rent-stabilized apartment properties. He's proposed other freebies, like bus trips and daycare, but we'll focus on his promise to make apartments rents affordable—by, of all things, freezing them. Mamdani has also proposed building another 200,000 units over the next decade, which would be the route to take to ease some of the city's housing woes. But he aims to have the city build...

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23 Oct
Member News, New York Related News, News

Greenberg Traurig | New York Poised to Be at the Forefront of AI Regulation – Five Bills Await Gov. Hochul’s Action

Among the hundreds of bills passed during New York’s 2025 legislative session are several pieces of legislation that impose regulations on developing and using AI. While some of the measures are aimed at refining recently adopted laws, some of the bills would regulate the technology in entirely new ways. The governor is a strong supporter of advancing AI technology, previously stating, “hoever leads in the AI revolution will lead the next generation of innovation and progress, and we’re making sure...

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22 Oct
Member News, New York Related News

Trepp | Work-from-Home’s Impact on Office … Yawn

It's been five-and-a-half years since the onerous Covid lockdowns were instituted across most of the country, devastating the office, retail, and hotel sectors. While the latter two sectors have come back, the office market continues to feel the pain. But it's not uniform, as the best buildings in most areas are doing just fine. It's the others that aren't quite there yet—t's not clear whether they'll ever return. The work-from-home, or WFH, movement might have played a role, but exactly...

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09 Oct
Chapter News, New York Related News

New York State Governor | Governor Hochul Slams Nearly Half a Billion Dollars in Federal Funding Cuts Targeting Dozens of New York Businesses and Clean Energy Programs

Funding Cuts Puts More Than 1,000 Jobs At Risk, State To Take Total Economic Hit of $650 Million Governor Calls On Washington Republicans To Restore Funding and Stop Playing Politics With New York Jobs and Businesses Governor Kathy Hochul today highlighted a list of federal funding cuts, released by Congress, that outlines grants terminated by the Trump administration through the Department of Energy. Last week, the White House announced that it was going to abruptly terminate nearly $500 million in clean energy...

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15 Aug
Chapter News, New York Related News

NY Fed | The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Second Quarter

NEW YORK—The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the April – June 2025 quarter, the Federal Reserve Bank of New York said today in its quarterly report to the U.S. Congress. The U.S. dollar, as measured by the Federal Reserve Board’s broad trade-weighted dollar index, depreciated 5.6 percent in Q2 2025, with a cumulative depreciation of 7.5 percent since the beginning of the year. Market contacts reported that the dollar’s depreciation was in...

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08 Aug
Chapter News, New York Related News

NY Fed | Inflation Expectations Tick Up; Consumers More Optimistic about Taxes and Their Financial Situations

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the July 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations increased at the short and longer-term horizons and were unchanged at the medium-term horizon. Consumers expect smaller growth in their tax payments and are more optimistic about their household financial situations. Expectations about the labor market were mixed with consumers reporting greater likelihoods of losing and finding jobs, and a lower likelihood of...

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07 Aug
Chapter News, New York Related News, Trade & TTIP Related

New York State Governor | By the Numbers: On the White House’s Tariff Deadline, Governor Hochul Underscores the Detrimental Impact of Trump’s Trade War on New Yorkers’ Wallets

Governor Hochul today released new data on the expected impact of President Trump’s trade war on New Yorkers’ wallets. On the August 7 tariff deadline, Trump is overseeing historic price hikes on everyday essentials, forcing families to spend an estimated $4,200 in additional federal taxes — all against the backdrop of a national affordability crisis. “As Trump rings in his August 7 tariff deadline, everyday New Yorkers know today is no cause for celebration. Consumers are bearing the brunt of...

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15 Jul
Chapter News, New York Related News, Trade & TTIP Related

New York State Governor | Taking Action on Tariffs: Governor Hochul Directs New York State Agencies to Report on Cost Increases and Supply Chain Disruptions Caused by Trump’s Tariffs

By September 30, State Agencies Will Compile Data on Effects of Federal Tariffs on New York Consumers, Small Businesses, Farmers, Construction, Tourism and Other Sectors State Officials Will Use Data Across Each Sector To Produce A Statewide Tariff Economic Impact Report by October 31 Read the New Memo to State Agencies To Keep New Yorkers Up-To-Date on Programs Available for Tariffs Impact, Governor Launched Tariff Resource Guide Traducción al español Governor Kathy Hochul today announced actions to assess cost increases and supply chain disruptions caused...

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