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New York pays more tax then it gets back

Oct 04, 2017 2:45 pm
Matthew Hamilton reports in the Albany Times Union that New York gets 84 cents back in services and funding from the federal government for every dollar New Yorkers add to the federal budget in taxes. A new report from state Comptroller Tom DiNapoli says New York sent $40.9 billion more in tax payments to Washington D.C. than the state received in federal spending in 2016. "Put another way, New York contributed $12,914 per capita in tax revenue to the federal budget and received $10,844 in per capita federal spending," Hamilton writes. New Jersey, North Dakota, and Connecticut got less bang for their bucks per capita, with New York finishing 47th in the country but first in total difference between ledger lines. Read the full story in the Albany Times Union.