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New York leads the nation in taxes, second in spending

Feb 13, 2024 12:45 pm

Luke Parsnow reports in New York State of Politics that the Citizens Budget Commission says New York ranks first in the nation in taxes and second for spending in 2021. New York, on average, collects $135 per $1,000 of personal income per person. Only Alaska beat New York in spending, which was 50 percent more per capita than the national average in 2021. The commission's report said, “Higher than average taxes and spending is not inherently bad. New York has long chosen to levy high taxes to fund an extensive array and level of services that are relatively high cost.... The issue is whether the value proposition — are residents and businesses satisfied with what they get, what they pay for, and what they need — continues to hold and bolster New York’s future.” Many progressives in New York have advocated lately for raising taxes on the rich, which Gov. Kathy Hochul has resisted. Read more about this story in New York State of Politics.