NYS Sending More Tax Dollars to Federal Government Than it Gets Back
Office of the New York State Comptroller
There’s a lot of attention on Washington these days, and with good reason. Whether the issue is ongoing debates over health care, taxes on working people and businesses, or funding for a wide range of essential programs and services, all New Yorkers have a big stake in the decisions made by our federal government.
Today, I released a report that provides key details highlighting the impact of the federal budget on New York. New York received more than $214 billion in federal expenditures in 2016, while generating almost $255 billion in federal taxes. That meant a deficit of $40.9 billion, or 84 cents in spending received for every tax dollar sent to Washington. And this imbalance has doubled in recent years. My Office previously found that, in 2013, New York paid $19.9 billion more in federal taxes than it received back in federal spending. These numbers and the policies that drive them have broad quality-of-life implications for millions of New Yorkers.
In the New York State Budget, federal receipts represent approximately one-third of total revenues. Federal spending provides Social Security income, Medicare and Medicaid health coverage and other benefits for millions of State residents, and supports tens of thousands of New York jobs. As the debates in Washington continue over key issues that will directly impact New Yorkers, this report is intended to help inform our residents and promote their participation in these deliberations.
If you have questions, please contact Robert Ward, Deputy Comptroller for the Office of Budget and Policy Analysis, at 518-473-4333.
