New York Could Run Out Of Cash In Weeks
New York Governor Andrew Cuomo is firing back at Senate Majority Leader Mitch McConnell for saying that Congress should not pass another stimulus bill for state and local governments hard hit by the pandemic. The bill is now being referred to in Washington as a “blue state bailout.”
State Comptroller Tom DiNapoli says the state is burning through cash.
“May particularly is a big school aid payment, and we have a lot of money going out the door, the emergency expenditures for personal protective equipment, ventilators, and so on.”
There are a number of other problems impacting the state budget. Sales tax revenue has plummeted because stores are closed. The federal tax deadline was pushed back, so not everyone paid their income tax. Altogether, the state is down nearly $10 billion. DiNapoli says it will take multiple years to dig the state into the black.
Lawmakers on both sides of the aisle have criticized Senator McConnell for his resistance to helping states hit by the pandemic.
...cops, firefighters and healthcare workers makes McConnell the Marie Antoinette of the Senate.— Pete King (@RepPeteKing) April 23, 2020
Congress is in recess for another week and half. Passing anything before then would require unanimous consent.
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