ATTACK OF THE TAX MONKEY IN NEW YORK STATE
A new Citizens Budget Commission report using FY2024 data ranks New York as having the nation’s highest per‑capita tax burden and the second‑highest per‑person state spending. It notes that taxes and spending, driven by programs like Medicaid and public education, elevate living and doing‑business costs, potentially narrowing New York’s competitive appeal. The analysis urges holding or reducing taxes while improving service quality and efficiency to strengthen the state’s value proposition. It also highlights uneven public services and high property and sales taxes as part of the affordability challenge, signaling a tough outlook for ongoing competitiveness and growth. Looking ahead, the report implies that policy adjustments could improve attraction and retention of residents and businesses. Dive Deeper: The report analyzes the latest available data from fiscal year 2024 and compares state tax collections by local and state governments, finding New York at the top for per-capita taxa...