Hey, feds, where’s our $24 billion?

ALBANY – New York in 2017 sent more than $24 billion more in taxes to the federal government than it got back in services, a new report from state Controller Thomas DiNapoli said.

The state was just one of 11 states that sent more to Washington than it received, with only New Jersey, Massachusetts and Connecticut faring worse.

New York, DiNapoli said, got back 90 cent for every dollar sent in tax payments to Washington. The state received $225.7 billion in federal funding but sent Washington nearly $250 billion, the report found.

The gap was actually lower than the more than $41 billion the previous year when the state received 84 cents back for every $1 in taxes sent. This is due in part to increased funding for Medicaid and other health care programs provided by the Affordable Care Act, he said.

But it still remains significant. Most states received more back in federal funding than they sent in taxes, with New Mexico faring best.

The average return in 2017 for all states was $1.19 in federal spending for every $1 in taxes sent to Washington, DiNapoli said.

“New York gives more than it gets back from Washington and threats to cut federal funding for health care and other programs could tip the balance even further,” DiNapoli said. “The state relies on the federal government for a third of its annual budget, but the imbalance of tax dollars remains. New Yorkers deserve to be treated more fairly in the federal budget.”

The gap has been around for decades given the amount of millionaires and corporations in New York that send higher amounts of taxes to the feds.