The Center on Budget and Policy Priorities is out with a new report to property tax restrictions across the country.

And the researchers conclude that caps like New York's should be lifted or at least eased.

In short, they argue that property taxes are not able to keep up with the rising costs of the services local governments are expected to provide- and state aid has not increase to make up the difference.

Joining me from Washington now to explain more is one of the report's authors, Michael Leachman, and here in studio with his reaction is Ron Deutsch of the Fiscal policy institute.