{"id":46164,"date":"2020-08-13T19:05:00","date_gmt":"2020-08-13T16:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-yorks-economic-outlook-ranked-worst-in-the-nation\/"},"modified":"2020-08-13T19:05:00","modified_gmt":"2020-08-13T16:05:00","slug":"new-yorks-economic-outlook-ranked-worst-in-the-nation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-yorks-economic-outlook-ranked-worst-in-the-nation\/","title":{"rendered":"#New York\u2019s economic outlook ranked worst in the nation"},"content":{"rendered":"

“#New York\u2019s economic outlook ranked worst in the nation<\/strong>”<\/p>\n

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August 13, 2020 |<\/span> 12:05pm <\/p>\n

\n A conservative think tank ranked New York\u2019s economic outlook the worst in the nation as the state tries to recover from the coronavirus pandemic.<\/p>\n

The Empire State placed dead last on the American Legislative Exchange Conference\u2019s annual ranking for the seventh straight year largely thanks to its high taxes and hefty debts.<\/p>\n

New York and other states like neighboring Vermont and New Jersey \u2014 which filled out the bottom three \u2014 could be left behind in the recovery from the COVID-19 crisis if they don\u2019t enact \u201cpro-growth\u201d policies, the report\u2019s authors contend.<\/p>\n

\u201cSound tax policy and eliminating excessive government regulations continue to stand strong and true in improving states\u2019 competitiveness, and we hope these states\u2019 stories serve as a guide as we navigate the economic recovery following the COVID-19 pandemic,\u201d co-author Arthur B. Laffer said in a statement.<\/p>\n

Utah, meanwhile, had the best economic outlook for the 13th straight year, followed by Wyoming and Idaho.<\/p>\n

The list released Wednesday judged states by 15 economic policy criteria \u2014 and New York landed among the 10 worst states for 11 of those categories including its top marginal corporate tax rate, which ALEC says is the nation\u2019s highest at 17.26 percent.<\/p>\n

ALEC also faulted the state\u2019s top marginal personal income tax rate of 12.7 percent \u2014 the second-highest in the country \u2014 and said New York\u2019s debt service accounts for 9.6 percent of its tax revenues, the nation\u2019s third-worst rate.<\/p>\n

New York fared better for its economic performance over the last decade, ranking 21st overall thanks to a 51.8 percent surge in its gross domestic product and a 10.9 percent jump in employment from 2008 to 2018, according to ALEC. But that was offset by the state losing 1.3 million people from 2009 to 2018, the report says.<\/p>\n

The ranking came as the Empire State grapp<\/a>les with the fallout from the COVID-19 pandemic, which has killed more than 32,000 New Yorkers and temporarily shuttered businesses statewide this spring.<\/p>\n

New York City officials slashed the municipal budget by billions of dollars amid the crisis, and retailers have called the Big Apple the country\u2019s worst place to do business\u00a0now that the city\u2019s tourists and commuters have largely vanished.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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If you want to read more Business News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#New York\u2019s economic outlook ranked worst in the nation” August 13, 2020 | 12:05pm A conservative think tank ranked New York\u2019s economic outlook the worst in the nation as the state tries to recover from the coronavirus pandemic. The Empire State placed dead last on the American Legislative Exchange Conference\u2019s annual ranking for the seventh…<\/p>\n","protected":false},"author":1,"featured_media":46165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[53015],"class_list":["post-46164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-new-yorks-economic-outlook-ranked-worst-in-the-nation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/46164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=46164"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/46164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/46165"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=46164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=46164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=46164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}