Press Release:
Today, U.S. Senate Majority Leader Charles E. Schumer (D-NY) released the following statement on how the historic federal relief he has delivered for New York has led to New York receiving more back from Washington than the state has sent in taxes, according to the NYS Comptroller.
This is the third year in a row that New York has had a positive balance of payments, after a long history of facing the opposite and sending more to Washington than it received:
“For decades and decades, New York State paid more to the federal government in taxes than we got back. My mentor, the late Senator Moynihan always decried this imbalance. But now for the third year in a row, thanks to the historic federal investments I passed — especially from the American Rescue Plan— New York is getting back more from the feds than it paid in taxes,” said Senator Schumer.
“When I became majority leader, I vowed to fight this imbalance, and I am proud I secured billions in relief and investments for New York. And after I led the effort to pass into law the Bipartisan Infrastructure Investment and Jobs Law, my CHIPS and Science bill, and the Inflation Reduction Act, more federal investment will be headed to New York, something I’ll continue to fight for. It’s never been more clear: it pays to have the Senate majority leader from New York.”
