US $2Trln COVID-19 Package Fails To Address New York's Revenue Loss - Governor

US $2Trln COVID-19 Package Fails to Address New York's Revenue Loss - Governor

NEW YORK (UrduPoint News / Sputnik - 26th March, 2020) The $2 trillion US coronavirus (COVID-19) stimulus provides New York State with $5 billion to respond to the outbreak, yet falls short of addressing the state's lost revenue, Governor Andrew Cuomo said in a press briefing on Thursday.

"New York State receives $5 billion from the stimulus. And it's earmarked only for COVID virus expenses, which means it does absolutely nothing for us in terms of lost revenue to the state," Cuomo said. "The Congressional action, in my opinion, simply failed to address the governmental need.

"

New York will lose $10-15 billion in revenue due to the pandemic, which is "a ton of money" for the state's budget, according to the governor.

"I am disappointed... I find it irresponsible; I find that reckless," Cuomo said, adding that this was the opportunity to "put politics aside."

On Thursday, New York State reported 385 deaths related to COVID-19, while 37,258 people tested poise for the virus.

Your Thoughts and Comments