Cuomo slams $2T stimulus bundle as ‘horrible’ for New York

Cuomo slams $2T stimulus package as ‘terrible’ for New York

WASHINGTON — Gov. Andrew Cuomo issued a stinging rebuke of the Senate’s $2 trillion coronavirus stimulus bundle on Wednesday, pronouncing the hard-hit Empire State were shortchanged.

“It could be truly horrible for the state of New York,” Cuomo mentioned at his day-to-day press convention, claiming New York State would obtain just below $four billion in investment from the massive bundle.

Cuomo mentioned the determine was once a paltry sum in comparison to the estimated $15 billion in misplaced earnings New York finances officers estimate will hit the state finances.

The governor mentioned, “$3.eight billion seems like some huge cash, however we’re taking a look at a earnings shortfall of $9, $10, $15 billion greenbacks.”

The governor’s place of work revised that determine to $3.1 billion on Wednesday afternoon — Cuomo communications director Dani Lever claiming the state of New York, which is dealing with greater than 30,000 circumstances, were left at the back of.

“As a p.c of our overall state finances — 1.Nine p.c — it’s the second one lowest quantity within the country,” she mentioned.

“Actually 48 states get a better share in investment than New York State.  For instance, South Dakota will get 17.Nine p.c.”

Each Cuomo and White Space officers have sounded the alarm over worsening prerequisites in New York, with 60 p.c of all new U.S. COVID-19 circumstances now coming from the Large Apple.

Senate Minority Chief Chuck Schumer (D. NY) touted the bundle as a significant win for New York after days of marathon negotiations with Treasury Secretary Steven Mnuchin ended with a deal within the early hours of Wednesday morning.

Schumer estimated New York would obtain greater than $40 billion price of federal investment, however that comes with $15 billion in unemployment insurance coverage and  $15 billion in direct assessments for taxpayers — cash that each one American citizens gets — plus a $3.eight billion bailout of the MTA, and tens of billions of greenbacks in health center investment.

“This can be a dramatic and important shot within the arm for New York in a time of significant want,” Schumer mentioned on a convention name with newshounds on Wednesday afternoon.

“While you upload all that up, New York does significantly better than another state,” he claimed.

However Cuomo mentioned an instantaneous aid fund for state and native governments ravaged through the virus — which Schumer mentioned would ship “no less than $5.eight billion to New York” — was once now not sufficient.

“That is drop within the bucket relating to wishes,” Cuomo mentioned earlier than endorsing the behemoth bailout proposed through Space Speaker Nancy Pelosi which Cuomo mentioned would make $17 billion to be had for New York.

“We’re frugal and we’re environment friendly. I’m telling you, those numbers don’t paintings. I informed the Space participants we truly want their assist.”

President Trump on Tuesday declared he desires the financial system again up and working through Easter Sunday on April 12 however Cuomo previous warned the height of infections in New York might nonetheless be 21 days away.

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