Federal Issues

New York’s Balance of Payments in the Federal Budget - Federal Fiscal Year 2018, January 2020

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.

New York’s Balance of Payments in the Federal Budget – Federal Fiscal Year 2019, November 2020

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.

Excel file with supporting data | Data Visualization

Assessing the Targeting of the Federal Coronavirus Relief Fund, September 2020

In March and April 2020, Congress passed four stimulus bills to address the COVID-19 pandemic’s impact on the public health system and the economy. As Congress debates additional relief measures, it is worth reviewing the targeting of the initial funding in order to inform new policy to counter the virus and its economic effects.