New Yorkers continue to pay more in taxes than they get back in spending
Jan 14, 2020 11:55 pm
The Associated Press reports in Crain's New York that New Yorkers continue to pay more in federal taxes than they get back in federal spending. In 2018 New York paid $26.6 billion more in federal taxes than the government spent in the state. That means New Yorkers got 90 cents back for every tax dollar, compared with a national average of $1.21. In 2013 the gap was $19.9 billion, and Comptroller Thomas DiNapoli said it increased this year as New Yorkers paid $4 billion more in taxes due to the President's new tax plan. “It's an important reminder for everyone in New York, that New York contributes a great deal to Washington and the federal government and we should certainly be sure that we can can fight anyway we can to maximize the return we have,” DiNapoli said, warning an undercount of New Yorkers in the 2020 census would make the issue worse. New York is one of seven states that pays more in than they get back in federal spending. Read more about this story in Crain's New York.