Cuomo: $2T Senate Bailout 'Terrible' for NY
Gov. Andrew Cuomo, in his daily COVID-19 press briefing (held at the state Capitol today), said the $2 trillion virus bailout bill would not provide nearly enough aid to assist New York, which is the epicenter of the outbreak in the U.S.
The governor said the bill, as it stands, would only provide $3.8 billion for New York, which, he admitted, sounds like a lot to the average person. But it's nowhere near the amount the state stands to lose in revenue as a result of this public health crisis, which the governor said could be anywhere from $9 billion to $15 billion or more.
The response to the virus has already cost the state $1 billion, and will likely cost $7 billion when all is said and done. "This is just a drop in the bucket as to need," Cuomo said.
The governor said New York fared better in the House version of the bill, standing to receive some $17 billion. As a result, he has had multiple conversations with the state's congressional delegation, telling members to "make adjustments."
"We’re not a big spending state; I cut taxes every year," Cuomo said. "I have the lowest growth rate of the state budget in modern history. We are frugal we are efficient."