New Jersey Ranks Near Last for Return on Taxes Paid to the Federal Government

Ridgewood NJ, with states having received hundreds of billions of dollars in federal aid during the COVID-19 pandemic, the personal-finance website WalletHub today released updated rankings for 2021’s Most & Least Federally Dependent States, as well as accompanying videos.

This report illustrates the extent to which states are independent economically. However, the oxymoron in this situation is that states with a higher level of federal dependence are likely better positioned to handle the coronavirus pandemic, given that a lot of relief has come from the federal government. In order to identify which states most and least depend on federal support, WalletHub compared the 50 states across three key metrics: return on taxes paid to the federal government; federal funding as a share of state revenue; and share of federal jobs.

Federal Dependency of New Jersey (1=Most Dependent, 25=Avg.):

• 49^th – Return on Taxes Paid to the Federal Government
• 42^nd – Federal Funding as a Share of State Revenue
• 45^th – Share of Federal Jobs

For the full report, please visit:
https://wallethub.com/edu/states-most-least-dependent-on-the-federal-government/2700