Critical Public Finance

Insights blog

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...

TIF Case Studies: California and Chicago

While tax increment financing (TIF) is a common tool for municipalities to fund economic development (read how it works here), it is responsive to the legal, political, and economic environments of the locality in which it is implemented. 

Resource Library

Inequality and Austerity: 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

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.