On the Backs of New York State Households:
The Extreme Costs of Climate Change Impacts Families
in Every Region of the State
A Region-by-Region Analysis of the StatewideTaxpayer Tally Per Household of $2.2 Billion in Climate Costs
Read the full report here.
New Yorkers are in a “perfect storm” situation created by the devastating impacts of the escalating climate crisis, the huge costs faced to mount a response, and the lack of a dedicated fund to pay for those soaring costs. Without a revenue source for climate programs, by default, the costs have been placed on the backs of state and local taxpayers. How much are New Yorkers paying? This report seeks to answer that question and recommends a solution based on fiscal fairness and environmental justice.
New York State Taxpayers Burdened With $2.2 Billion or $300 Per Household in Climate Costs; New York City Taxpayers Additional $562 Per Household
An analysis by NYPIRG found New York State taxpayers were heavily burdened by $2.2 billion in climate costs in 2023 or $300 per household. A second analysis of NYC taxpayer climate costs estimated future costs of $162.9 billion, or $50,906 per household, and the projected 2024 cost is $1.8 billion, or $562 per household.
This report’s snapshot of the state’s climate costs is just the tip of the iceberg. There is ever-growing evidence that the costs of adapting infrastructure and establishing programs to protect people from the dangers of a rapidly heating planet and the new abnormal are staggering. This begs the question: Why are households collectively paying $2.2 billion when those responsible for the climate crisis are raking in record profits and paying nothing?
Our report recommends a fair and just funding stream be established to take the burden off working families and free up critically needed funds for renewable energy, public health, and other social service programs. The Climate Change Superfund Act (S.2129A/A.3351A) places the escalating climate expense burden where it belongs—on the Big Oil companies who created the climate crisis and are making record profits from it.
The bill is based on the highly successful Federal Superfund “polluter pays” law created 43 years ago that has cleaned up thousands of toxic dumps. It would require Big Oil companies that released large amounts of greenhouse gas (GHG) emissions from 2000 to 2018 to pay apportioned fees totaling $3 billion a year. The state must create a climate program based on foundational financial fairness and environmental justice. Make Big Oil climate polluters—not hardworking New York families—pay.