NEW JERSEY – New Jersey is 2022’s 2nd least federally dependent state, according to a study done by WalletHub.
With states having received hundreds of billions of dollars in federal aid during the COVID-19 pandemic, the personal-finance website WalletHub Tuesday released updated rankings for 2022’s Most and Least Federally Dependent States.
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.):
- 49th – Return on Taxes Paid to the Federal Government
- 44th – Federal Funding as a Share of State Revenue
- 45th – Share of Federal Jobs
- New Jersey
Here are the top 5 most federally dependent states:
- West Virginia
For the full report, click here.