Report: NYS Sends More $$$ to Washington Than It Gets back
New York sent an estimated $24.1 billion more in tax payments to Washington than it got back in federal spending in federal fiscal year 2017, getting back 90 cents for every dollar, according to a report released today by State Comptroller Thomas P. DiNapoli.
In 2017, New York was one of just 11 states that sent more to Washington than it received. Only New Jersey, Massachusetts and Connecticut fared worse while New Mexico fared the best.
“New York gives more than it gets back from Washington and threats to cut federal funding for health care and other programs could tip the balance even further,” DiNapoli said. “The state relies on the federal government for a third of its annual budget, but the imbalance of tax dollars remains. New Yorkers deserve to be treated more fairly in the federal budget.”
While New York received 10 cents less per dollar of taxes, most states received more than they paid. The average return for all states was $1.19 per tax dollar sent to Washington. New York’s per capita contribution to the federal treasury, $12,588, was the fourth highest among the states. Connecticut had the highest per capita payments to the federal government at $14,671, followed by Massachusetts with $13,675 and New Jersey with $12,970. Mississippi generated the lowest per capita total tax payments at $5,884. New York’s total payments of nearly $250 billion ranked third among the states behind California and Texas.