Critical Public Finance

Insights blog

New in Cities Journal: "Selling TIF"

Tax increment financing (TIF) is a long-standing and popular public financing tool in the U.S., but it’s starting to jump its borders. And while domestic TIF use has had its pitfalls, the U.S. experience can offer lessons learned to municipalities worldwide looking at how best to finance their economic development goals.

Hudson Yards' Commercial Subsidies: $1.1B

New York City's Hudson Yards project includes heavily discounted property taxes for Hudson Yards developers.

The Pandemic Torpedoed New York City’s Budget. Now What?

Urban Matters, a publication of The New School's Center for New York City Affairs, featured an update on the post-pandemic city budget crisis facing New York City from James Parrott, director of economic and fiscal policies at the Center.  Covid-19 has created a severe New York City fiscal crisis with a lot of moving parts. We asked James Parrott, director of economic and fiscal policies at the Center for New York City Affairs at The New School and a seasoned observer...

Resource Library

The Political Economy of Cities

In a forthcoming book about cities and inequality, SCEPA Senior Fellow Rick McGahey examines how economists think about cities, what they typically leave out, and what this tells us about the future for urban hubs such as New York City. 

How Risk Undermines TIF's Self-Financing Premise

Working Paper - TIF’s self-financing rhetoric can be used to shift risk onto taxpayers.

The Cost of NYC's Hudson Yards Redevelopment Project

Rather than being "self-financing," New York's Hudson Yards project cost the city $2.2 billion in costs, largely due to tax breaks provided by the city to incentivize development and standard development risks and costs.