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Cuomo Seeks $59B in Budget Shortfall Relief for City, State
Governor Andrew M. Cuomo and prominent New York labor leaders called on Congress to provide $59 billion to address budget shortfalls at both the state and municipal levels due to the ongoing COVID-19 pandemic. In a letter, they emphasized critical infrastructure projects that would be impacted without federal funding and the hospitals, schools and institutions that would be supported by it.
The letter said New York State requires $30 billion during the current fiscal year and next to avoid massive disruption. New York City requires $9 billion, local governments outside the city require $4.5 billion, the Metropolitan Transportation Authority requires $12 billion, and the Port Authority of New York and New Jersey requires $3 billion.
“Even if state and local governments cut expenses, increase taxes, and reduced services, the revenue shortfall would still be in the billions of dollars,” according to Monday’s letter.
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- ◦Economy
