By Maribel Hastings As thousands of federal employees are laid off and thousands of immigrants are deported, the economic contributions of those immigrants that Donald Trump removes become more necessary through their federal, state and local tax payments, and their contributions to the solvency of vital programs such as Social Security and Medicare. The increase […]
By Emily Mella Pablo and James A. Parrott // centernyc.org New York City’s unemployment rate for the first quarter of this year (January-March) fell to 5.3 percent, down from 6.4 percent in the first quarter of 2022. The city continues to lag national performance, with the overall U.S. unemployment rate for the latest quarter clocking […]
Unemployment payments are usually taxed as income by the federal government. That changed, however, in March 2021, when Congress passed the American Rescue Plan. The law provided for people (including joint filers) making less than $150,000 to exclude $10,200 in unemployment benefits from their income when they file their income taxes for the 2020 tax […]