N.Y. Comptroller: State Continues To Lead Nation In Paying More In Federal Taxes Than It Gets In Aid
New York continues to lead the nation in what it pays to the federal government compared to the funding it gets back. State Comptroller Thomas DiNapoli said there has never been a more critical time for there to be a balance.
New York taxpayers paid $23.7 billion more in federal taxes than the state received in federal spending in 2019, according to a report released by the State Comptroller’s office. That’s well below the national average based on the total dollar amount; only New Jersey ranks lower based on population.
DiNapoli said this year federal stimulus and relief funding in response to the coronavirus pandemic has been a financial lifeline for the state. But he said the state still lags with a $16 billion budget deficit for next year, and more federal assistance is needed to restore funding to cash-strapped local governments, schools and the MTA transit system.
DiNapoli is concerned that the 2020 Census that the Trump administration ended nearly a month early will further tip the balance of payments away from New York.