In 1934, Taylor was elected New York City Comptroller. He reported the city credit was better in 1935 than at any point in the previous five years, and in 1937 took credit for the city's improved financial condition. He lost his bid for re-election. In 1938, he was appointed a Commissioner of the Port of New York Authority, a post he'd serve for the next ten years, and became president of the American Merchant Marine Institute. He also served as chief negotiator for Eastern shipping operators with sea-going unions for many years, and was chairman of the Merchant Marine Committee of the Whole until he retired in 1952. He was an alternate delegate to the 1928, 1932, 1944, 1948, 1952, and 1956 Democratic National Conventions, and served as a delegate to the 1940 Democratic National Convention.