State Comptroller Thomas DiNapoli says in his new analysis of the federal budget dispute that New Yorkers could face $43 billion in tax increases if Washington, D.C. does not avoid the so-called fiscal cliff.

DiNapoli says if Congress and President Barack Obama fail to reach a deal, it will cost each family thousands of dollars in federal taxes.

Obama wants Republican lawmakers to extend Bush-era tax cuts for most Americans, while allowing tax cuts for the top 2 percent of Americans to expire.