New York State collected $2.1 billion more in taxes than expected for the 2024-25 fiscal year, according to State Comptroller Tom DiNapoli. The year-end total marked an $11 billion increase compared to the previous year.
While the extra revenue is a positive sign for the state’s financial health, DiNapoli cautioned lawmakers to be mindful of broader economic risks. He pointed to federal policy decisions—such as tariffs and reductions in federal aid—that could impact the state’s economy moving forward.
As the state budget nears completion, DiNapoli urged a careful approach, noting that "economic uncertainty" remains despite strong revenue performance.
