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Article: State and Local Finance: Report Shows Disparity in Federal Spending for States.
- Article from:
- The Bond Buyer
- Article date:
- September 2, 1998
- Author:
CopyrightCOPYRIGHT 1998 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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States in the South and West received more funds back from the federal government than they paid in taxes in fiscal 1997, according to a study released yesterday.
The report by the Northeast Midwest Institute found that New Mexico got the most bang for its federal tax buck, getting back $1.90 for each dollar its residents paid.
Connecticut, on the other hand, only got back 68 cents for each federal tax dollar it paid, for last place. The state was first in per capital federal tax burden - each Connecticut taxpayer gave the federal government $9,089, over $1,000 more than second-ranked New Jersey.
The institute is a nonprofit, nonpartisan group ...