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NY Received More From Washington Than It Sent Due to Federal Relief
… and Public Housing ($271 per capita, 1 st ), and Transit ($154 per capita, 1 st ). Federal expenditure areas where New …
https://www.osc.ny.gov/press/releases/2024/04/ny-received-more-washington-it-sent-due-federal-reliefNew York’s Economy and Finances in the COVID-19 Era (February 18, 2021)
… New York ranks seventh among all the states in the percentage of adults who are experiencing food scarcity, at … map above shows the latest Census Bureau estimates of the percentage of adults in each state whose households sometimes … Suffolk and Albany counties have also seen double-digit percentage increases, and caseloads in most other counties …
https://www.osc.ny.gov/reports/impact-covid-19-february-18-2021New York’s Economy and Finances in the COVID-19 Era (March 18, 2021)
… One year since the onset of the COVID-19 pandemic, New York’s small businesses continue to suffer, even as the … approximately 80 percent since October 2020. The share of New York’s small businesses reporting negative impacts has … decline. According to the Census Bureau, 77 percent of New York’s small businesses reported a decrease in revenues, …
https://www.osc.ny.gov/reports/impact-covid-19-march-18-2021Update on New York’s Unemployment Insurance Trust Fund: Challenges Continue
… high despite steady employment gains and State tax rates that have already increased to maximum permissible … Sources: U.S. Department of Labor; U.S. Department of Treasury Interest due on New York’s advance has been limited … the Federal UTF (in millions) Source: U.S. Department of Treasury States have addressed their outstanding advances …
https://www.osc.ny.gov/reports/update-new-yorks-unemployment-insurance-trust-fund-challenges-continueNew York’s Economy and Finances in the COVID-19 Era
… reported, New York’s unemployment rate has soared upward in recent months, with May's 14.5 percent nearly four times the 3.7 percent in February. But that rate is only one measure of the impact … In the wake of COVID19 more than half of adult New Yorkers …
https://www.osc.ny.gov/reports/covid-19-july-9-2020New York’s Economy and Finances in the COVID-19 Era (May 13, 2021)
… from enacted tax increases and the legalization of online sports betting and recreational marijuana use. These …
https://www.osc.ny.gov/reports/new-yorks-economy-and-finances-covid-19-era-may-13-2021States' Balance of Payments with the Federal Government: Fiscal Year 2018 - Interactive Map
Federal Spending Received Minus Taxes Paid
https://www.osc.ny.gov/reports/budget/states-balance-payments-federal-government-fiscal-year-2018-interactive-mapNew York’s Economy and Finances in the COVID-19 Era
… New York State’s total employment count hit an all-time high of more than 9.8 million in February, reflecting net gains of nearly 2 million jobs … claims in New York totaled just over 52,000. While still high by most historical levels, that figure compared to a …
https://www.osc.ny.gov/reports/covid-19-august-19-2020DiNapoli Releases Analysis of State Budget Financial and Capital Plans
… projects healthy growth in tax receipts and federal aid for the current fiscal year, but raises concerns about … Thomas P. DiNapoli. The $177 billion spending plan for SFY 2019-20 is up $6.2 billion from SFY 2018-19. “While … savings might be achieved. PIT receipts, which account for 64 percent of all taxes anticipated to be received this …
https://www.osc.ny.gov/press/releases/2019/07/dinapoli-releases-analysis-state-budget-financial-and-capital-plansNew York One of Only Seven States to Owe Money to Federal Unemployment Trust Fund
… to the federal Unemployment Trust Fund (UTF), New York is one of only seven states or territories with unemployment insurance (UI) funds that … levels,” DiNapoli said. “Absent any significant federal or state action, repaying the loan and replenishing the … to the federal Unemployment Trust Fund New York is one of only seven states or territories with unemployment …
https://www.osc.ny.gov/press/releases/2022/06/new-york-one-only-seven-states-owe-money-federal-unemployment-trust-fundDiNapoli: New Yorkers Could Lose $72B in Reported State and Local Tax Deductions Under Trump Plan
… stand to lose more than $72 billion in reported deductions for income and property taxes if proposals to change the … and personal exemptions could result in higher tax bills for some New Yorkers and only modest savings for others," said DiNapoli. "Washington should proceed with …
https://www.osc.ny.gov/press/releases/2017/10/dinapoli-new-yorkers-could-lose-72b-reported-state-and-local-tax-deductions-under-trump-planImplications for the Future – 2023 Financial Condition Report
… liability from such individuals to drop sharply because they tend to rely on non-wage income, such as capital gains, … rainy day reserves to a record level of $6.3 billion. When combined with other informal reserves, the State has set … reserves rather than relying on informal reserves that do not have safeguards including mandatory repayment …
https://www.osc.ny.gov/reports/finance/2023-fcr/implications-futureDiNapoli: Halfway Through the Year, Revenue Hole Persists
… Halfway through the state’s fiscal year, state tax receipts are trailing last year by $2.8 billion, according to the September State Cash Report released by New York State … Halfway through the states fiscal year state tax receipts are trailing last year by $28 billion according to the September State Cash Report released by New York State …
https://www.osc.ny.gov/press/releases/2020/10/dinapoli-halfway-through-year-revenue-hole-persistsDiNapoli: Federal Data Shows New York's Losses in Fourth Grade Math and Reading Scores Are Double National Average
… for eighth grade reading but declined in eighth grade math (down 6 points). Over this time, New York’s losses in fourth grade math and reading scores were double the national average and exceeded 45 other states in math and 38 other states in reading. The average drop for …
https://www.osc.ny.gov/press/releases/2023/03/dinapoli-federal-data-shows-new-yorks-losses-fourth-grade-math-and-reading-scores-are-double-nationalNew York’s Economy and Finances in the COVID-19 Era
… of 2020, total wages paid in New York State declined by $12.5 billion or 7.4 percent in comparison to the second … Total wages in accommodation and food services fell by $3.5 billion, a drop of nearly 60 percent from the prior … sector also saw a modest gain. Change in Total Wages Paid by Industry in New York State Second Quarter 2019 to Second …
https://www.osc.ny.gov/reports/covid-19-december-16-2020DiNapoli Op-Ed in Crain's New York Business
… Crain’s New York Business published an op-ed from New York State Comptroller Thomas P. DiNapoli today on the … of federal relief funds. The full op-ed is below: What Are New Yorkers Getting From Federal Covid Relief Funds? The new … Crains New York Business published an oped from New York State …
https://www.osc.ny.gov/press/releases/2022/04/dinapoli-op-ed-crains-new-york-businessDiNapoli Op-Ed in Newsday Urges Washington to Help Governments Hurt by COVID-19
… is below: State, local governments can slide into fiscal black hole We are all painfully aware of the devastating … all. Op-Ed State, local governments can slide into fiscal black hole Find out how your government money is spent at Open Book New York . Track municipal spending, the state's 170,000 …
https://www.osc.ny.gov/press/releases/2020/04/dinapoli-op-ed-newsday-urges-washington-help-governments-hurt-covid-19Implications for the Future – 2022 Financial Condition Report
… tight labor market pushing wages higher combined to boost inflation to its highest level since the early 1980s, causing … the uncertainty of economic forecasts. The pace of inflation, the Fed’s interest rate response, and continued … allowed levels and approximately 3.7 percent of General Fund spending. This level is low compared to other large …
https://www.osc.ny.gov/reports/finance/2022-fcr/implications-futureNew York’s Economy and Finances in the COVID-19 Era (July 1, 2021)
… in the fourth quarter of 2019 to $1.5 trillion in the second quarter of 2020. While proprietors’ income declined by 14.4 percent and wages declined by 9.0 percent from the first … recovery. Prior Editions June 24, 2021 June 3, 2021 May 13, 2021 April 16, 2021 March 30, 2021 March 18, 2021 March …
https://www.osc.ny.gov/reports/new-yorks-economy-and-finances-covid-19-era-july-1-2021State Audits Issued in the Last 60 Days
… View state audits issued in the last 60 days …
https://www.osc.ny.gov/state-agencies/audits/new-releases