New York Gov. Andrew Cuomo called the $2 trillion relief package aimed at easing the economic impact of the coronavirus “irresponsible” and “reckless” because it doesn’t provide nearly enough cash to cover his state’s huge loss in revenue.
“The congressional action in my opinion simply failed to address the governmental need,” Cuomo said Thursday at a press conference in Albany.
Cuomo said that the $5 billion New York would receive from the bill doesn’t come close to covering state’s projected revenue shortfall, which could total $15 billion.
“I’m disappointed, I said I was disappointed. I find it irresponsible, I find it reckless,” Cuomo said. “When this is over, I promise you I’m going to give them a piece of my mind.”
He added that the money New York does get is “earmarked only for COVID virus expenses. Which means it does absolutely nothing for us in terms of lost revenue,” which Cuomo called “the bigger problem.”
New York has already spent $1 billion as it scrambles to respond to the deadly outbreak, Cuomo said.
The bill, which passed the Senate unanimously late last night, helps small businesses and unemployment insurance, “and that is a good thing,” Cuomo said.
But it “did not help local governments or state governments, and it did not address the governmental loss,” he said. “And the federal officials, the ones who are being honest, will admit that.”
Source Article from https://www.cnbc.com/2020/03/26/ny-gov-cuomo-calls-2-trillion-coronavirus-stimulus-bill-irresponsible-and-reckless.html
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