New York’s Balance of Payments in the Federal Budget - Federal Fiscal Year 2013, October 2015
The fiscal relationship between the federal government and the states has been a topic of debate since the founding of our nation.
The fiscal relationship between the federal government and the states has been a topic of debate since the founding of our nation.
The President and leading members of Congress are pushing to enact major changes in our federal tax code. Before any such measures become law, we need to make sure that taxpayers and policy makers understand the implications for New Yorkers.
As the President and Congress push for changes on both the spending and revenue sides of the federal budget, the stakes for New York State are high.
It’s been said that the only certain things in life are death and taxes. But when leaders in Washington make sweeping promises about the benefits of “tax reform,” we can be certain of at least one other thing – the need to look very carefully at the numbers.
In 2009 and 2010, President Obama and Congress enacted two major laws—the American Recovery and Reinvestment Act, and the Affordable Care Act—that provided significant new funding to help New York and other states provide essential services to the people.
It’s easy to take clean, safe drinking water for granted. However, as incidents of contamination in our public water supplies in recent years have reminded us, strong regulatory oversight is essential to assure the quality and safety of our water.
The federal government has been operating under Continuing Resolutions since the start of the new federal fiscal year that began October 1, 2010. Despite ongoing efforts between the President and Congress to reach agreement on a federal budget, taxpayers face the threat of the first federal government shutdown since 1996.
Every ten years, the U.S. Constitution requires the government to perform a count of the population, known as a census.
New York’s Alexander Hamilton played a central role among our nation’s Founders, as the Broadway musical bearing his name reminds us. One of the questions Hamilton analyzed as he sought to build support for a stronger central government was the potential for “inequality among the States” in paying federal taxes. Well over two centuries later, that issue remains a national concern.
In Federal Fiscal Year 2019, New York State generated $23.7 billion more in federal taxes than it received in federal spending. In total dollars, New York’s deficit was the highest among the 50 states. For every tax dollar paid to Washington, our State received 91 cents in return—well below the national average of $1.24.