Tax Injustice: New York gives more money to the federal budget than it gets

New York taxpayers donate more to the federal budget than any other state.

Фото: Depositphotos

According to a new Rockefeller Government Institute report, New Yorkers send more money to Washington than any other state, but receive less government funding from federal programs. Data confirmed by government officials.

“Forty states have balance of payments surpluses, meaning they receive more from Washington than they contribute in taxes, but New York is on the downside,” says New York State Budget Director Robert Mugica.

According to the report, no other state can compare in terms of contributions to New York.

“The governor is upset, he has been fighting this for years,” said a spokesman for Governor Andrew Cuomo.

“The results are impressive. The state's large current account deficit for 2017 was $35,6 billion, the worst in the nation,” the report said.

On the subject: How to pay tip taxes in the US

The report says that the huge deficit of federal payments in New York is due to the fact that the city receives less under federal programs than others, but pays more in the form of a federal tax.

"New York's persistently negative balance of payments is driven primarily by the disproportionate amount of federal taxes paid rather than by relatively lower federal spending received," the report said.

Payments received from New Yorkers averaged $ 12 906 in 2017, which is $ 3 375 higher than the national average. The report says that the average federal spending per person in New York was $ 342 lower than the national average.

Which states pay the least federal taxes and vice versa.

Photo: rockinst.org

Laura Schultz, author of the Rockefeller Institute report, notes that the payment imbalance in New York is partially structural.

“We have a progressive tax system, and I don’t see it changing,” she said.

On the subject: What if there is no money to pay taxes

According to Schulz, in order to correct the imbalance, the federal government could invest more in the state’s economy by relocating more federal employees to New York or creating military bases here.

However, she added that, due to recent tax changes that reduce the ability of taxpayers in high-tax states to deduct state taxes from federal taxes, New York will continue to spend more on Washington than on receiving it.

Read also on ForumDaily:

Four things you need to do to get a good retirement in the USA

10 Brokerage Tricks for Renting New York

How to apply for food stamps in the US

30 ways to make money online

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.