NY Sending Out More Tax Dollars Than it Gets Back
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.