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Brown & Brown, Inc. (NYSE: BRO) — the Florida–based parent of Brown & Brown of New York, Inc., which has an office in Syracuse — recently announced that its board of directors has increased its regular quarterly cash dividend by 10 percent. The insurance-brokerage firm will pay a dividend of 16.5 cents per share on […]
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Brown & Brown, Inc. (NYSE: BRO) — the Florida–based parent of Brown & Brown of New York, Inc., which has an office in Syracuse — recently announced that its board of directors has increased its regular quarterly cash dividend by 10 percent.
The insurance-brokerage firm will pay a dividend of 16.5 cents per share on Nov. 12, to shareholders of record on Nov. 5. The dividend is up from the 15 cents a share that Brown & Brown paid last quarter. It marks its 32nd straight annual dividend increase, according to the firm’s Oct. 22 announcement.
Brown & Brown also reported that its board has authorized the purchase of up to an additional $1.25 billion of the company’s common stock outstanding. With this authorization, Brown & Brown will now have approval to repurchase up to $1.5 billion, in the aggregate, of the company’s shares. The firm said it will buy back the stock from time to time, at the company’s discretion and subject to the availability of shares for purchase, market conditions, the trading price of the stock, and alternative uses for capital. Other factors considered include the company’s financial performance and objectives to reduce dilution from Brown & Brown’s employee equity incentive plans, decrease outstanding shares, or manage other potential factors.
Daytona Beach–headquartered Brown & Brown says it is a major insurance-brokerage firm delivering comprehensive and customized insurance products and risk-management services since 1939. It has more than 23,000 employees and over 700 offices worldwide. Brown & Brown makes frequent acquisitions of insurance agencies a major part of its growth strategy. Its stock price has declined about 12 percent year to date and fallen 15 over the last year, as of Oct. 24, according to Yahoo Finance data. But Brown & Brown’s stock is up more than 27 percent over the last two years and up 102 percent over the past five years.
Brown & Brown has an office at 500 Plum St. in Syracuse’s Franklin Square area.

Kotlikoff formally inaugurated as Cornell’s 15th president
ITHACA, N.Y.— Michael I. Kotlikoff was officially installed as Cornell University’s 15th president in a Friday, Oct. 24 ceremony in Barton Hall on the university’s campus. Kotlikoff had been appointed as Cornell president back on March 21, after having served as interim president since July 2024. The inauguration event followed a dinner for Cornell trustees,
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ITHACA, N.Y.— Michael I. Kotlikoff was officially installed as Cornell University’s 15th president in a Friday, Oct. 24 ceremony in Barton Hall on the university’s campus.
Kotlikoff had been appointed as Cornell president back on March 21, after having served as interim president since July 2024.
The inauguration event followed a dinner for Cornell trustees, council members, and guests as part of the trustee-council annual meeting schedule, according to an Oct. 27 Cornell Chronicle article.
Anne Meinig Smalling, chair of the Cornell board of trustees, presided over the ceremony, welcoming Kotlikoff’s family members and the two former Cornell presidents in attendance — Martha E. Pollack and Jeffrey S. Lehman.
Bob Harrison, emeritus chair of the board of trustees, offered a toast, lauding Kotlikoff for his 25 years at Cornell as a professor, department chair, dean and then as the longest-serving provost in Cornell’s history (2015-24) before stepping into the role of interim president in 2024.
Provosts rarely go on to become presidents of the same university, Harrison noted, because they typically must make many unpopular administrative decisions and balance competing academic interests and priorities, according to the Cornell Chronicle.
“Remarkably, while Mike has done all of these things, every dean with whom I have spoken during his tenure has told me how fair, straightforward and decent Mike has been as their boss,” Harrison said, thanking Kotlikoff for his “truly extraordinary leadership.”
In his own remarks at the Oct. 24 event, Kotlikoff reflected on his lengthy career at Cornell and the opportunities and challenges that lie ahead.
“It’s a different thing to be inaugurated as president of the university where you’ve spent most of your career — when you’ve been asked to help shape the future of an institution that is already your home, and to which you owe a debt of gratitude impossible ever to repay,” he said. “Cornell has given me opportunities that I could not have conceived of when I started college 56 years ago — a directionless freshman on a scholarship. And I never know quite how to respond, when people say, ‘I don’t know if I should offer you congratulations on your new job, or condolences.’ ”
Kotlikoff continued, “The truth is, that I could not think of a more meaningful time to serve an institution that has given me so much. And I am endlessly grateful, both for the opportunity, and for your support.”

VIEWPOINT: Timing is Everything: Mapping Charitable-Giving Plans Under New Tax Law
It’s never been easy to navigate the ever-shifting tax rules around charitable giving, and now it’s even trickier. Major changes under the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, are creating complexity, opportunity, and, for some, urgency. The OBBBA reshapes both how much you can deduct for charitable contributions
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It’s never been easy to navigate the ever-shifting tax rules around charitable giving, and now it’s even trickier. Major changes under the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, are creating complexity, opportunity, and, for some, urgency. The OBBBA reshapes both how much you can deduct for charitable contributions and who can benefit from these deductions in the first place.
Whether you are working with clients as a professional advisor, or planning your own year-end giving, these rules are worth understanding. At the Community Foundation, we often serve as a sounding board when charitable giving comes up. We have tools that can help, and if we can’t help directly, we’ll point you in the right direction.
Here are three key changes to keep in mind as 2025 winds down.
The OBBBA expands the standard deduction to $15,750 for single filers and $31,500 for married couples in 2025, with even higher levels for taxpayers aged 65 and older. This will make it harder for many households to itemize deductions. A strategy known as “bunching” charitable donations can help. For example, instead of giving $12,000 each year, a donor could contribute $36,000 (three years’ worth of gifts) to a donor-advised fund in 2025. This pushes total deductions high enough to itemize for one year, while future gifts can be distributed to charities from the fund while taking the standard deduction.
Beginning in 2026, only charitable donations exceeding 0.5 percent of adjusted gross income will be deductible. That means a couple with $225,000 in adjusted gross income (AGI) would see their deductible charitable amount reduced by $1,125 annually. In addition, the maximum tax benefit from charitable deductions for high-income taxpayers will be calculated at a 35 percent rate instead of 37 percent. For many households, 2025 will be a pivotal year to consider accelerating charitable gifts using bunching strategies to maximize current tax strategies before these tighter rules take effect.
Also starting in 2026, taxpayers who take the standard deduction will be able to claim up to $1,000 (single filers) or $2,000 (married filing jointly) in direct charitable deductions. This is good news for the roughly 100 million Americans who don’t itemize. But note the fine print: this deduction only applies to cash gifts made directly to charities — it excludes gifts of stock or contributions to donor-advised funds, which are tax-effective and convenient charitable-giving vehicles.
The bottom line is that 2025 is shaping up to be a pivotal year for charitable-giving decisions. Nonprofits across our community are in urgent need of donor support, and beyond the tax implications, philanthropy addresses critical local needs that transcend any deduction. Whether you’re advising clients or planning your own giving, now is the time to consider how to maximize both the tax benefits and the community impact of your charitable contributions.
Pragya Murphy serves as director of development & impact investing at the Central New York Community Foundation, where she leads charitable planning for individuals, families, and companies and provides outreach to the local professional advisor community and nonprofit organizations. She also supports the Community Foundation’s impact investment program and is available to nonprofits interested in learning more about or applying for impact investments.

VIEWPOINT: Strategy Without a Soul: When Marketing Leads Without Brand Strategy
You’re launching campaigns, hitting deadlines, and filling the pipeline. On paper, things look great. But something’s off. Internal-messaging debates keep resurfacing. Campaigns feel shallow and reactive instead of resonant and on-point. Ask people what the brand stands for, and you get different answers from each. These are classic signs your marketing is outpacing your brand
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You’re launching campaigns, hitting deadlines, and filling the pipeline. On paper, things look great. But something’s off. Internal-messaging debates keep resurfacing. Campaigns feel shallow and reactive instead of resonant and on-point. Ask people what the brand stands for, and you get different answers from each.
These are classic signs your marketing is outpacing your brand strategy. The body is in motion, but the soul is missing. Without a clear brand soul, marketing actions lose direction and authenticity; without active marketing, even a strong soul never makes an impact. Brand is the why and the identity. Marketing is the how and the action. When they fall out of sync, trouble follows.
Too often, brand strategy gets mistaken for a logo, a color palette, or a mood board. In reality, it’s the organization’s inner compass (purpose, values, identity, and promise) guiding every decision over the long term.
It answers the big questions: Who are we? What do we believe in? How are we different, and why should anyone care? Brand strategy is the North Star, aligning the organization around a meaningful identity that resonates with customers, informs product decisions, and shapes culture.
Brand strategy is a long-term discipline. Strong brands reinforce the same core narrative and values over years, building equity: trust, loyalty, and a price premium. Inconsistent brands have to work harder and spend more to be heard. It’s not mere theory: studies show brands with consistent messaging earn more, seeing a 10 percent to 20 percent revenue boost compared to fragmented brands, and that brand-aligned companies are two times more profitable as inconsistent ones.
If brand is the soul, marketing is the body in motion — the campaigns, channels, and content that bring the brand to life. Marketing is how you reach people, drive action, and achieve near-term objectives.
When marketing is aligned with a strong brand foundation, it acts as a powerful amplifier, reinforcing identity and values across every channel. Without that foundation, marketing risks becoming movement without purpose. Teams chase trends, fragment messaging, and change their story to grab quick attention. Short-term wins can mask long-term erosion of trust.
A marketing plan without brand strategy is like a GPS without a destination: lots of directions, no clear end point.
Not every downturn in campaign performance or internal struggle is due to tactics or budget. Often, the root cause lies upstream in the brand clarity and cohesion. How can you tell if you have a brand-strategy problem, instead of a marketing problem? Look for these red flags:
• Inconsistent positioning and messaging. Your value proposition shifts from campaign to campaign. Different teams or partners describe the brand differently. Customers can’t tell what you stand for, and their trust erodes.
• Internal misalignment. Ask five employees to describe your brand promise. If you get more than two or three different answers, your brand isn’t clear internally. And if your own team isn’t sure how to describe your voice or promise, it’s a sign of a soul-and-action gap.
• Reactive, disconnected campaigns. Without brand guardrails, campaigns chase the moment instead of reinforcing the mission. Clever ideas might land in isolation but fail to build a coherent brand story. In higher education, for example, 61 percent of institutions report inconsistent marketing efforts leading to off-brand campaigns. The result is often competing funnels rather than one cohesive strategy.
Brand equity is the cumulative value of how people think and feel about you — trust, reputation, loyalty, and differentiation. Strong brand equity makes customers less price-sensitive, more loyal, and more open to new offerings. It reduces acquisition costs and increases lifetime value.
When brand clarity is missing, these advantages fade. Inconsistent brands have to spend about 1.75 times more on advertising to achieve the same growth as consistent ones.
Conversely, investing in brand is investing in resilience. Each aligned marketing action builds on the last, strengthening recognition and trust. Notably, an analysis by System1 of 56 brands found that those with consistent branding grew market share faster and were twice as profitable as those constantly switching their messaging. Decisions get easier because teams have a shared filter: Does this fit our brand? The result: sharper execution, faster consensus, and a more confident presence in the market.
• Patagonia has built decades of loyalty on a mission to “Build the best product, cause no unnecessary harm, and use business to inspire and implement solutions to the environmental crisis.” Every employee can articulate it. Every campaign reflects it.
• Cleveland Clinic lives its “Patients First” promise across the entire patient experience. That clarity shows up in consistent, patient-centered marketing and one of the strongest reputations in health care.
• USAA is a financial-services firm that serves military families with a brand rooted in service and loyalty. Every employee (whether in insurance, banking, or IT) is inculcated with the mission of “We know what it means to serve” and putting members first. In fact, many employees are veterans, bringing true authenticity to every interaction. Their marketing is essentially word-of-mouth from members whose experiences match the promise.
1. Revisit your brand foundation. Document your identity, purpose, positioning, values, personality, voice, and promise. Make sure it’s still true, relevant, and bold enough to matter. Socialize it internally so everyone can articulate it.
2. Audit marketing through a brand lens. Map your campaigns to brand pillars. Cut or adjust what doesn’t fit. Align media spend with your core story.
3. Make brand checkpoints routine. Bake brand reviews into campaign planning and creative briefs. Keep guidelines updated and accessible.
Your marketing team can be creative, data-driven, and fast. But without a clear, differentiated brand soul as the foundation, you’re building on sand. Brands that live their purpose consistently earn trust, loyalty, and profitability. Marketing that runs ahead of brand eventually burns out, wastes budget, and muddles identity.
Before your next campaign, ask: Do we know who we are? Does everyone here know it? Is our marketing expressing it? If the answer is no or unsure, slow down and realign. When brand and marketing move together, the inside matches the outside, and your message rings true. That’s the kind of alignment customers notice — and stick with.
JoAnne Gritter is the chief operations officer at ddm marketing + communications, a B2B digital-marketing agency for highly complex and highly regulated industries. She is responsible for overseeing and facilitating collaboration between all major functional areas at ddm, including finance, human resources, IT, operations, sales, and marketing.

Ask Rusty: Should I Take Social Security Now, or at age 70?
Dear Rusty: I was born in April 1958, and my plan has been to take my Social Security (SS) at age 70. However, my sister-in-law says that it is smarter to take it now while I am still working. I will be 70 in 2.5 years. Her husband collects his SS and has kept working.
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Dear Rusty: I was born in April 1958, and my plan has been to take my Social Security (SS) at age 70. However, my sister-in-law says that it is smarter to take it now while I am still working. I will be 70 in 2.5 years. Her husband collects his SS and has kept working. She believes their strategy will net more money than mine due to the fact he has continued to pay into the system, and she believes it has super boosted his monthly benefit. What say you? BTW, Lord willing and the creek don’t rise, I plan on living at least till age 87.?
Signed: Questioning My Plan
Dear Questioning: You have already reached your SS full retirement age (FRA), so you can earn as much as possible without your SS benefit being negatively affected by Social Security’s Annual Earnings Test. In fact, if your current earnings are among the highest over your lifetime, your SS benefit amount will continue to increase because of your higher current earnings. You are now also earning Delayed Retirement Credits (DRCs), which will improve your monthly amount by 0.67 percent for each month (8 percent for each full year) you delay. That means that if you wait and claim at age 70, you will receive about 127 percent of what you would have gotten had you claimed at your FRA of 66 years and 8 months (plus you’ll also receive all cost-of-living adjustment, or COLA, increases that occur between now and then). So your life expectancy is key.
It usually takes about 12 years to breakeven moneywise by claiming at age 70 versus at FRA. In other words, if you claim at 70 instead of FRA, you will have received the same amount of SS money after you are age 82. Thus, if your life expectancy is greater than 82, you’ll receive more in cumulative lifetime benefits by waiting until 70 to claim. Of course, no one really knows how long they will live, so it is a judgement you need to make. “Average” life expectancy for a man your current age is about age 84, but if you’d like to get a more personalized longevity estimate you can use this tool we use here at the AMAC Foundation: https://socialsecurityreport.org/tools/life-expectancy-calculator/
Another thing to keep in mind is whether your wife will receive a widow’s benefit if you die first. A widow will get the higher of either her own SS retirement benefit, or the husband’s benefit amount when he died. So, if you claim at age 70, your surviving spouse will benefit (if her own SS is smaller) because you waited until 70 for your higher SS amount. Just something else to keep in mind.
Yet another is whether your wife will be entitled to a higher benefit as your spouse while you are both living. (FYI, a spouse will get a “spousal boost” if her own SS retirement benefit at FRA is less than 50 percent of her spouse’s FRA entitlement). If so, your wife cannot claim her spousal benefit until you take your own SS retirement benefit. If your wife will be entitled to more as your spouse while you are both living, then delaying until age 70 means your wife cannot collect her higher spousal amount until you claim. Depending on your financial needs as a couple, that may affect your decision as well.
When to claim is always a judgement call, which should consider your life expectancy, your financial needs, and your marital status. If you don’t need the SS money now (while you are working) and believe you will, indeed, live “at least till 87,” then waiting would likely be your best long-term decision. If you have doubts about your life expectancy, and/or if your wife will substantially benefit from a “spousal boost” if you claim earlier, then claiming now would also be a wise choice.
Finally, it’s also important to understand that your SS benefits may be taxable by the IRS and, if you are still working, your IRS tax rate will likely be higher now than it would be after you retire from working. (Note: The so-called “One Big Beautiful Bill Act” provides only temporary tax relief (thru 2028) on SS benefits — the IRS will still tax SS benefits, but also allow a separate tax deduction to offset those SS taxes you pay).
Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4-million-member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.
Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained, and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration (SSA) or any other governmental entity.

VIEWPOINT: From Startup to Long-Term Success: How SBA Loans Can Help Businesses Grow
The journey to becoming a small-business owner is challenging yet rewarding. Each stage of this endeavor has opportunities and obstacles — from planning and development to launch and expansion. Fortunately, there are valuable resources available to support and empower entrepreneurs along the way. When you’re ready to scale your business, a loan with support from
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The journey to becoming a small-business owner is challenging yet rewarding. Each stage of this endeavor has opportunities and obstacles — from planning and development to launch and expansion. Fortunately, there are valuable resources available to support and empower entrepreneurs along the way.
When you’re ready to scale your business, a loan with support from the U.S. Small Business Administration (SBA) could be the key to unlocking your next phase of growth.
At times, a bank wants to approve a loan that falls outside traditional credit requirements. For instance, a founder looking to buy a business may lack the necessary collateral to secure funding. This is where the SBA and its loan programs come into play. SBA loans can be used to finance a waste management company whose only available collateral is garbage bins, or a tech company where employees work from home and their assets are not physical.
SBA loans, backed by the federal government, provide financing options for various business needs, including acquiring a company, expanding operations or launching a startup. Since these loans are supported by an agency specifically focused on helping entrepreneurs and small businesses, they offer significant advantages for borrowers and lenders compared to traditional business loans.
If you have dedicated your time and money to building your business, registered it as a legal, for-profit entity, and are operating within the United States or in a U.S. territory, you’re likely eligible for an SBA loan.
SBA loans’ eligibility requirements and terms and conditions are broader and more favorable than traditional loans because this funding is backed by the federal government and often include an SBA loan guarantee. This guarantee reduces the risk for lenders, allowing financial institutions to offer longer repayment terms — an advantage that makes these loans especially appealing to small-business owners.
For small-business owners, this translates to lower monthly payments, more manageable debt, and extra cash flow to reinvest in your business. The flexibility of SBA loans can be a game-changer, helping you navigate the early stages of your venture, sustain growth and maintain financial stability — especially during periods of expansion or economic uncertainty.
Beyond immediate funding, SBA loans can also lead to future financing opportunities. The security of an SBA guarantee means that even those with limited credit history or collateral can access capital. Successfully obtaining and repaying an SBA loan can also help to build your credit profile, improve your financial standing and make it easier to secure additional funding.
In addition to financial support, SBA loans come with access to valuable resources designed to help entrepreneurs succeed. From career counseling and training programs to marketing strategies and operational guidance, organizations like the Small Business Development Centers (SBDC), SCORE, and local chambers of commerce offer expert assistance. If you’re unsure whether an SBA loan is the right fit for you, these resources can provide guidance and even assist with the application process.
From $500 to $5 million, borrowers can acquire funding for various expenses — whether it be a small or large need. Most community banks offer the following types of SBA loans:
• 7(a) Loans: SBA 7(a) Loans are the most common SBA loans and provide up to $5 million for working-capital expenses. This loan is a flexible-financing solution for business owners looking to grow their businesses, purchase new equipment, invest in real estate, or cover payroll expenses.
• SBA Express Loans: SBA Express Loans offer up to $500,000 and have an expedited review process for quicker access to funds — these loans are typically approved within 36 hours.
• 504 Loans: SBA 504 Loans support small-business expansions and modernization through long-term fixed-rate financing, providing up to $5.5 million in funding. These loans can be used for constructing or purchasing buildings, land, or large equipment or machinery.
From starting your career to growing your startup or expanding your business, SBA loans provide the right mix of flexibility and support to help you achieve your goals.
Paula Valencia is assistant VP and SBA lending manager at Tompkins Community Bank, Central New York.

VIEWPOINT: In Fight Over ACA Tax Credits, the Stakes are Lowest for NYS
As Washington, D.C. skirmishes over the future of enhanced tax credits under the Affordable Care Act (ACA), New York State (NYS) has relatively little to gain or lose. The number of New Yorkers using any ACA credits, enhanced or not, stands at about 119,000 or 0.6 percent of the population, the lowest proportion of any
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As Washington, D.C. skirmishes over the future of enhanced tax credits under the Affordable Care Act (ACA), New York State (NYS) has relatively little to gain or lose.
The number of New Yorkers using any ACA credits, enhanced or not, stands at about 119,000 or 0.6 percent of the population, the lowest proportion of any state other than the District of Columbia, according to the latest federal enrollment report.
That compares to utilization rates as high as 19 percent in Florida and 13 percent in Georgia, and an average of 6 percent nationwide.
The driver of this disparity is New York State’s Essential Plan, which offers zero-premium, government-funded coverage to residents up to 250 percent of the poverty level. That program has absorbed the bulk of the NYS population that would otherwise be using ACA tax credits to offset their costs.
The Essential Plan also reaps the federal money that would otherwise have been spent on credits for its enrollees, covering all its $14 billion budget.
Although the enhanced credits enacted in 2021 have nominally boosted that revenue by about $1 billion per year, it’s not clear NYS is actually collecting that amount — because the program was unable to spend all its available funding even before the enhancements took effect.
Still, New York Gov. Kathy Hochul and her administration have joined a national Democrat-led campaign to prevent the enhanced ACA credits from expiring in December — and the state’s publicity materials portray the Essential Plan’s
1.7 million enrollees as having something to lose if that happens.
The original ACA tax credits were targeted to the working poor — people who made too much money to qualify for Medicaid but didn’t have access to employer-sponsored health benefits and could not afford insurance on their own.
The law established a percentage of income that consumers were expected to pay toward their own coverage — on a sliding scale from 100 percent to 400 percent of the poverty level — and offered tax credits that were enough to cover the balance of a benchmark premium from coverage purchased through an ACA insurance exchange.
As part of a COVID pandemic relief package in 2021, Washington lawmakers enhanced the ACA credits by lowering the share of income consumers were expected to contribute — to zero for incomes up to 150 percent of the poverty level and to no more than 8.5 percent at the high end. Congress also extended the credits to people of any income, ending what had been a benefit “cliff” at 400 percent of the poverty level.
The biggest benefit of the enhancement went to people just above 400 percent of the poverty level, who saw their net costs cut in half. Based on a typical premium of $27,000, a family of four with income at 900 percent of the poverty level, or $289,000, could claim a credit of more than $2,000.
However, that would be an unusual scenario. Most Americans at that income level get health coverage through their employers — and have no reason to buy insurance directly. The bulk of people claiming ACA credits still fall below 400 percent of the poverty level.
New York’s ACA insurance change — known as the New York State of Health — said that 146,000 New Yorkers were benefiting from enhanced tax credits as of September 2024. This includes 43,000 or 29 percent, with incomes above 400 percent of the poverty level.
The state report also said that federal funding for the Essential Plan “is estimated to be $1 billion higher as a result of these enhanced federal subsidies.”
That $1 billion figure is consistent with what the state Health Department estimated when it applied for — and later received — federal authorization to extend the Essential Plan’s eligibility ceiling from 200 percent to 250 percent of the poverty level.
However, those same estimates indicated that the program’s revenue would exceed its costs by $1.4 billion even if the credits were allowed to expire — implying that the extra $1 billion was unnecessary in the near term.
Over its first nine years, excess revenue accumulated in the NYS Essential Plan’s trust fund, which held a balance of
$8.9 billion as of May, according to the state comptroller’s office. Since the program’s expansion took effect in April 2024, the comptroller’s records indicate that the trust fund balance is no longer growing because the state is now collecting only the federal revenue it needs to cover expenses. This raises the possibility that some available revenue, including proceeds from enhanced tax credits, could be going unused.
With enactment of President Donald Trump’s tax- and budget-cutting package this summer, the Essential Plan’s well-cushioned finances are in jeopardy. The federal legislation cut off most legally present immigrants from eligibility for federal health programs, including ACA tax credits, starting in 2026. About 730,000 of the affected immigrants are enrolled in New York’s Essential Plan. Their departure will chop the plan’s revenue by more than half, or $7.6 billion.
In response, Gov. Hochul has moved to unwind the program’s 2024 expansion. Officials say this would temporarily save the state money on covering about 500,000 of the affected immigrants but displace some 450,000 enrollees above 200 percent of the poverty level.
Given these looming changes, the lost revenue associated with enhanced tax credits is one of many moving parts in a complicated financial structure. As members of Congress consider whether that credits should be continued, the Hochul administration should do more to clarify how the money is being used now — and how it might be used going forward.
Bill Hammond is senior fellow for health policy at the Empire Center for Public Policy, which says it is an independent, nonpartisan, nonprofit think tank located in Albany that promotes public-policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government. Hammond tracks developments in New York’s health-care industry, with a focus on how decisions made in Albany and Washington, D.C. affect the well-being of patients, providers, taxpayers, and the state’s economy.

OPINION: An Eerie Silence About the State of Education in NY
A recent analysis by National Assessment of Educational Progress (NAEP (https://www.nationsreportcard.gov/reports/mathematics/2024/g12/) lamented the declining state of U.S. education by highlighting how scores in grade 12 math and reading have hit record lows. While COVID-19 was definitely a factor, others correctly pointed out that the decline began before the pandemic. New York State shows a similar
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A recent analysis by National Assessment of Educational Progress (NAEP (https://www.nationsreportcard.gov/reports/mathematics/2024/g12/) lamented the declining state of U.S. education by highlighting how scores in grade 12 math and reading have hit record lows. While COVID-19 was definitely a factor, others correctly pointed out that the decline began before the pandemic.
New York State shows a similar pattern: student performance started to decline before the pandemic and the resulting school shutdowns dealt an additional blow. Meanwhile, New York’s spending on education went through the roof and has shown no sign of slowing down.
According to NAEP results in grade 4 reading, New York scored above the U.S. average but significantly behind Massachusetts or New Jersey, which clinched the top spots. We were also outperformed by Mississippi, one of the poorest states in the country.
New York wasn’t always mediocre at reading. In fact, the Empire State’s grade 4 reading scores used to exceed the U.S. average in the 2000s. Later, however, New York’s scores began to dip and then fell sharply during the COVID epidemic.
Similar dynamics can be observed in grade 8 reading: They significantly exceeded the U.S. average in the 2000s but began to lag in the 2010s. In 2024, New York had its lowest score ever.
In mathematics, New York’s 4th graders scored three points below the U.S. average, and performed worse than much poorer states (for example: Alabama, Missouri, and Louisiana). Neighboring Massachusetts performed the best in the country.
For grade 8 mathematics, New York achieved an average score of 271, compared to the U.S. average of 272.
In grade 4 mathematics, as in reading, New York used to exceed the U.S. average. It started to lag in 2011 and imploded during COVID.
Similar dynamics can be observed in grade 8, except the COVID decline was less pronounced.
These falling academic outcomes would be an alarm bell for the education authorities of any state — except New York is not just any state. We spent more than $30,000 to educate each student in 2022-23, which was nearly double the U.S. average of $16,500. In fact, the Empire State spends more per pupil than any country in the world, yet it does not lead the world in educational outcomes.
Massachusetts, which is the best-performing state, spends 24 percent less per pupil than New York. Mississippi, which outperforms New York on grade 4 reading and mathematics, spends only 40 percent of what New York spends.
New York’s high spending on education is not new. We have been outspending all other states for half a century, and the gap is ever-increasing. According to the National Center for Education Statistics, from 1968 to 2021 the national average to educate one student jumped from $5,960 to $16,280, an increase of 173 percent in inflation-adjusted terms. However, New York’s spending skyrocketed from $9,475 to $29,720, or 214 percent, in the same period.
The issue is only going to get worse. Based on preliminary data, New York is going to spend about $35,000 to educate a single student in 2025-26.
The silence of New York’s leaders is confusing. Imagine the political firestorm if any other program generated double the cost while achieving mediocre results. When electricity prices recently rose, New York’s politicians and activists erupted with outrage.
New York’s education system has been spending piles of money and underperforming for more than a decade now. Where are the calls for reform?
Zilvinas Silenas is president and CEO of the Empire Center for Public Policy, Inc., an independent, non-partisan, nonprofit think tank based in Albany. The organization says its mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government. This article is drawn from the Empire Center’s blog, where it was first published on Oct. 20.

OPINION: Why Voting in Elections Matters More Than Ever
Many states around the country [on Nov. 4 and before through early voting] will be holding municipal and in some cases, state elections. Whether that’s true for your state or not, I want to make a case for why turning out to vote, even in what might seem to be minor local elections, really matters.
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Many states around the country [on Nov. 4 and before through early voting] will be holding municipal and in some cases, state elections. Whether that’s true for your state or not, I want to make a case for why turning out to vote, even in what might seem to be minor local elections, really matters. But first, let’s look at why lots of people don’t vote.
In an era when local newspapers have vanished from many towns, and community organizations have dwindled in number and vitality, it can feel harder than ever to make an informed choice at the ballot box. It’s tougher to come by reliable local coverage, neighbors, and civic organizations may no longer gather to compare notes, and national and online media drown out local priorities and perspectives. We’re busy with work and families and — especially as legislators in some states seek to make it harder to vote —getting to the polls can be a hassle.
Yet I would argue that these very trends make it more, not less, important to vote.
Let’s start with those local elections I mentioned. Mayors, councils, school boards, and county commissions determine zoning, taxes, infrastructure, policing, public education, and other policies affecting what it’s like to live where we do. Because turnout tends to be lower in municipal elections, a relative handful of votes can determine who controls a school board or a city council; when citizens don’t turn out, unrepresentative groups make decisions for everyone else.
Moreover, the fact that solid local-news coverage has become harder to find is exactly why citizens need to show up at the ballot box. If reporters aren’t around to pay attention, then voting itself — and boning up on the issues as you prepare to vote — is an act of civic oversight. It’s how we remind officeholders that we’re watching, and how we hold them accountable.
For most of my career, I have heard people justify not voting by arguing their vote won’t matter. I understand why people feel that way, but I don’t buy it, for two key reasons.
First, research by UCLA Prof. Clémence Tricaud has shown that while, on average, the margins between winning and losing candidates in federal elections have remained fairly stable over the decades, in the last 60 years “seat margins” — that is, the gap between the number of seats each party wins in a legislative body like the House, Senate, or Electoral College — have narrowed significantly. Had a small number of people voted differently in Georgia and Pennsylvania in 2020, for instance, their electoral votes could have given the election to President Trump.
That brings me to my second point. I firmly believe that voting isn’t just a way to boost a particular candidate or weigh in on a key issue; it’s also a signal that we value having a say in the direction of our city or country. In other words, by voting we reinforce the system — and when enough of us do so, we strengthen it. By contrast, when a fraction of the electorate votes, the people they elect feel less pressure to respond to the full range of voices they represent. Low turnout undermines a government’s moral authority.
It does even more damage than that. Cynicism discourages capable people from entering public service. When voters withdraw, they leave politics to the loudest and most extreme members of their communities. Participation — not just at the ballot box but in attending town halls, getting in touch with officials, organizing, and supporting good candidates — is the best way I know to show that citizens value integrity in public life.
I know that representative democracy demands work. It asks us to sort fact from fiction, learn which news sources give us trustworthy, fact-based information, and put in the time to listen to candidates so that we can judge them. But each ballot you cast is a message that the system belongs to the public, not to the few. Democracy survives only when people show up for it. It’s as simple as that.
Lee Hamilton, 94, is a senior advisor for the Indiana University (IU) Center on Representative Government, distinguished scholar at the IU Hamilton Lugar School of Global and International Studies, and professor of practice at the IU O’Neill School of Public and Environmental Affairs. Hamilton, a Democrat, was a member of the U.S. House of Representatives for 34 years (1965-1999), representing a district in south-central Indiana.
VIEWPOINT: Navigating the Shift from FIRE to IRIS
IRS changes for Forms 1098, 1099, and other information returns If your business files Form 1098, 1099, or other information returns with the Internal Revenue Service (IRS), a major shift is on the horizon. The IRS has recently announced the launch of its new Information Return Intake System (IRIS), which is set to go live
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If your business files Form 1098, 1099, or other information returns with the Internal Revenue Service (IRS), a major shift is on the horizon. The IRS has recently announced the launch of its new Information Return Intake System (IRIS), which is set to go live in November 2025 and replace the Filing Information Returns Electronically (FIRE) platform. This shift will affect how businesses of all sizes file forms like 1099-MISC, 1099-NEC, 1099-K, and 1098, among others. The shift in systems is not optional — and failing to prepare could result in missed deadlines, rejected filings, or compliance issues.
Below are some common questions and answers related to this shift.
This change will apply to any taxpayer responsible for filing information returns with the IRS, including but not limited to Forms 1099-MISC, 1099-NEC, 1099-DIV, 1099-INT, 1099-K, 1098, 1098-T, 1042-S, and other similar filings within the 1098 and 1099 series.
The IRS is replacing its electronic filing system, called FIRE, with a new web-based system, IRIS, intended to simplify and modernize the information-return filing process. While IRIS is expected to be available for use beginning with tax-year 2025 filings that are due in 2026, IRIS will be mandatory beginning with tax-year 2026 filings that are due in 2027. In addition, as part of the IRS’s paperless-processing initiative, paper filings will no longer be permitted, meaning that all information returns will eventually need to be filed within IRIS.
Taxpayers will have two filing options, depending on the number of information returns to be filed within IRIS:
• Taxpayer Portal — Easy Online Filing. This option may be used for businesses or individuals filing less than 100 information returns. Taxpayers can manually enter data or upload a spreadsheet, and no special software is needed.
• Application-to-Application (A2A) — Bulk Filing. This option is designed for businesses or individuals filing 100 or more information returns. Taxpayers can send data directly from their software to the IRS using an XML format. This option requires setup and testing, so early preparation is key.
• IRIS Launch: November 2025
• FIRE System Retirement: Dec. 31, 2026
• Last Tax Year for FIRE: 2025 (filed no later than Dec. 31, 2026)
• First Tax Year for Mandatory IRIS: 2026 (filed in 2027)
Taxpayers are expected to be able to access IRIS through the IRS online platform. Depending on filing volume, taxpayers may be able to utilize assistance from a third-party provider. All users, including “Responsible Parties” and “Authorized Delegates,” must authenticate through their own individual ID.me accounts to then be able to access a company’s and/or their own IRIS accounts.
The IRS says that IRIS is intended to improve efficiency and accuracy. It allows for real-time data validation and corrections, stores filed forms, allows taxpayers to download and print recipient copies, request extensions and file certain corrected returns — and is a more modern, user-friendly system.
The transition to IRIS involves several steps and getting ahead of the process will help avoid delays or filing issues. We recommend taking the following steps as early as possible:
1. Determine filing volume. Taxpayers with less than 100 information returns should be able to use the Taxpayer Portal to file; however, taxpayers with 100 or more information returns will need to use the A2A modality for bulk filing.
2. Prepare for XML Filing. If expecting to use the A2A modality, begin data mapping and software integration. As XML is a specialized format, taxpayers may need assistance from a developer or service provider.
3. Register with the IRS. Taxpayers will need an EIN and an ID.me account. As part of the registration process, each business taxpayer must also designate at least two “responsible parties” and may assign up to two “authorized delegates” who are able to manage filings including third parties or service providers.
4. Apply for a New Transmitter Control Code (TCC). A new TCC that is specific to IRIS will be required, as legacy TCCs from FIRE cannot be used. Taxpayers may need more than one TCC, depending on role and filing method. During registration, taxpayers and individuals must select a role that reflects how they will interact with the system: an “Issuer” files forms for their own business using the same EIN registered with IRIS; a “Transmitter” files on behalf of other businesses or themselves using an SSN — only one role is needed if performing both functions; and a “Software Developer” builds or manages software that connects to the IRIS system but does not submit forms directly. The TCC application and approval process can take up to 45 days to complete.
Frank C. Mayer is a partner (member) in the Albany office of Syracuse–based Bond, Schoeneck & King PLLC and chair of the firm’s tax law practice group. Contact Mayer at fmayer@bsk.com. Jessica M. Blanchette is an associate attorney in Bond’s Albany office. Contact Blanchette at jblanchette@bsk.com. Lyndon E. Hall is an associate attorney in Bond’s Syracuse office. Contact Hall at lhall@bsk.com. This article is drawn and edited from the law firm’s website.
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