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Cuomo: Stimulus Deal “Terrible” – Would Leave NY With “Drop In The Bucket”

Courtesy of ZeroHedge View original post here.

New York Governor Andrew Cuomo (D) criticized the impending COVID-19 stimulus deal as “terrible,” and would allocate a “drop in the bucket” to the worst-hit state in the nation, according to The Hill.

“The Senate is considering a $2 trillion bill, which is quote-unquote ‘relief’ for business, individuals and governments,” said Cuomo during his daily briefing, adding. “It would really be terrible for the state of New York.”

“What does it mean for New York state?” the governor asked. “It means $3.8 billion. $3.8 billion sounds like a lot of money, but we’re looking at a revenue shortfall of [as much as] $15 billion. This response to this virus has probably already cost us $1 billion, and it will probably cost us several billion dollars when we’re done.”

New York City, specifically, Cuomo said, will only receive $1.3 billion in the stimulus deal, which he called “a drop in the bucket, as to need.”

“I spoke to our House congressional delegation this morning, I said to them ‘this doesn’t do it.’ I understand the Senate theory and the Republican theory but we need the House to make adjustments,” Cuomo said, noting that the House’s bill, in contrast, gave the state $17 billion. -The Hill

“We’re not a big-spending state. I cut taxes every year,” Cuomo continued. “I have the lowest growth rate of the state budget in modern political history. We are frugal and we are efficient. I’m telling you these numbers don’t work and I told the House members that we really need their help.

New York has 30,811 registered cases and 285 deaths from COVID-19 as of this writing.


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