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NY Sending Out More Tax Dollars Than it Gets Back

Close up of stacks of money on silver platter
Credit: Jose Luis Pelaez Inc

New York State Comptroller Thomas DiNapoli says the Empire State sends more tax dollars to the federal government than it gets back. According to a new report New York gets 84 cents for every dollar it sends which is a wider gap than three years ago. DiNapoli’s report shows in federal fiscal year 2016 New York sent $255 billion to Washington but received $214 billion back. The average return for all states was $1.18 per tax dollar. DiNapoli says federal decision makers should consider this imbalance as they debate proposed budget and policy changes that could significantly impact New York and other states.

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