NY Governor Andrew Cuomo speaks of the funds that are needed by New York State and Local Governments from Washington
Dramatic Actions would be the Result if Funding is Not Provided
Today during his tele-Press Conference, New York Governor Andrew Cuomo spoke of the need for proper funding to New York State and Local Governments from the Federal Government. He said that dramatic actions would be the result should billions of dollars in funding not be provided over the next two years for the sake of helping New York through its recovery and revival from the COVID-19 caused economic crisis.
For weeks now, the fact that the Congress and Senate have yet to reach an agreement on a stimulus package to help the economically affected populace of the country.
The HEALS (Health, Economic Assistance, Liability Protection and Schools) Act would be a follow-up to the CARES Act which was passed in March at the onset of the COVID-19 crisis.
Last week, Governor Cuomo sent a letter to New York’s Congressional Delegation calling on them to ensure $500 Billion in unrestricted state aid is included in any Senate passed relief package.
Audio of NY Governor Cuomo speaking (following below is the related transcript):
“On the recovery and the revival – what Washington does on this last piece of legislation is everything. If they do not fund state and local governments, you will see an economic recession. That has been proven – Chairman Bernanke, Chairman Powell, all economists across the board have said, when you don’t fund state and local governments and you cause them to do layoffs and cut back that makes the national economy worse.
We need $30 billion for New York State to cover our shortfall – $14 billion this year, $16 billion next year, that’s 30 billion over two years – the legislation’s over 2 years. If we do not receive $30 billion from the federal government – if our congressional representatives do not make sure New York has $30 billion we’re going to have to take very dramatic action and these dramatic actions I believe will be counterproductive – we will have no choice because I don’t have a printing press like the federal government does.
If the MTA does not get $12 billion over the next two years, they will have to take dramatic actions. Their dramatic actions are limited, all they could do is raise tolls and raise fares. If the Port Authority does not get $3 billion, they will have to curtail their capital plan – that means, LaGuardia and JFK. The Port Authority is funded by a percentage of the transportation facility fees. When people don’t take airplanes then the funding to Port Authority dries up and that’s just what happened over these past few months.
So, $30 billion for the state, $12 billion for the MTA and $3 billion for the Port Authority – those are the numbers.
When they sign the federal bill, when the house members raise their hands and say aye, when the senators agree to pass the bill – if does not have 30 billion, 12 billion and 3 billion, they are deciding on the actions of the state budget.
This state budget is not done in Albany, this state budget is done in Washington.