For the 2020 federal fiscal year, all 50 states came out ahead. That included New York, which got a return of $1.59 for every tax dollar sent to Washington D.C., a dramatic increase from the 91 cents it received in 2019, according to the report.
Federal funds sent to New York in 2020 during the pandemic went toward unemployment benefits for hundreds of thousands of residents..Federal funds sent to New York in 2020 during the pandemic went toward unemployment benefits for hundreds of thousands of residents..For years, New York was one of just a handful of states whose residents and businesses paid more in federal taxes than they got back in federal funding.
For the 2020 federal fiscal year, all 50 states came out ahead. That included New York, which got a return of $1.59 for every tax dollar sent to Washington, a dramatic increase from theEvery state – and particularly hard-hit New York – received large sums of COVID-era relief at the height of the pandemic, buoyed by programs like the Payroll Protection Program for businesses and nonprofits. States also received a boost in unemployment benefits for out-of-work Americans.
It was a period that saw Congress and then-President Donald J. Trump pass the CARES Act, a $2.2 trillion package that authorized $1,200 direct stimulus payments to most Americans.
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