© 2023 WSHU
NPR News & Classical Music
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Cuomo: Report Predicts $61B Deficit Over Four Years

Hans Pennink
The New York State Capitol in Albany

Governor Cuomo’s budget office is due to release an updated financial report, and the numbers are grim. Cuomo says the pandemic and the resulting “economic tsunami” caused by stay-at-home orders has meant a 14% drop in state revenues to $13.3 billion, which is projected to total $61 billion over the next four years.

“And what you are going to see is what we expected,” Cuomo said.

The governor says federal aid for the states will be necessary to close the gap, and he again called out U.S. Senate Majority Leader Mitch McConnell, who suggested that states with budget deficits due to the coronavirus should declare bankruptcy. Cuomo says it’s actually illegal for states to declare bankruptcy, so he says Congress would have to pass a law to allow it.

“Pass the law, I dare you, and then go to the president and say sign this bill,’” Cuomo said. “You want to send a signal to the markets that this nation is in real trouble? You want to send an international message that the economy is in turmoil? Do that.”

The governor has said he might have to cut funding to schools, hospitals and local governments by 20%, but he said Friday no decision has been made.

Read the latest on WSHU’s coronavirus coverage here.

Do you have questions you’d like WSHU to answer in local coverage of the coronavirus? Let us know via this survey.

Karen has covered state government and politics for New York State Public Radio, a network of 10 New York and Connecticut stations, since 1990. She is also a regular contributor to the statewide public television program about New York State government, New York Now. She appears on the reporter’s roundtable segment, and interviews newsmakers.
Related Content