NY Received More From Washington Than It Sent Due to Federal Relief
Historic federal pandemic relief funds, though being spent down, continued to boost New York’s balance of payments with Washington, according to a report issued today by State Comptroller Thomas P. DiNapoli. In Federal Fiscal Year (FFY) 2022, New York state generated $361.8 billion in federal taxes and benefited from $383 billion in federal spending. For every tax dollar paid to Washington, the state received $1.06 in return – a favorable per capita balance of payments of $1,076.