Cuomo: NYS Budget Faces $13.3B Shortfall
Crain鈥檚 Health Pulse April 24, 2020
is expecting a $13.3 billion budget as a result of Covid-19, Governor Andrew said.
That鈥檚 a 14% decline from the executive budget the Governor put forward before the pandemic. Over fiscal year 2021 to 2024, Cuomo said the state expects to lose $61 billion.
Cuomo has long said that the Covid-19 crisis will wreak havoc on state finances. Friday he put a dollar value on that damage. 黑料不打烊 was facing a $6 billion budget gap before the pandemic hit the state, but Cuomo blamed the shortfall on Covid-19.
鈥淭he state finances were very, very strong and then this economic tsunami hits and then you shut down the businesses, everybody stays home,” the governor said. He’s made repeated calls on the federal government for more aid to states in their federal relief packages, a plea that’s largely gone unfulfilled.
On Wednesday, Kentucky Sen. Mitch McConnell said states facing financial distress as a result of coronavirus should declare bankruptcy.
Cuomo corrected the Bluegrass legislator on Friday.
鈥淟egally, a state can鈥檛 declare bankruptcy,鈥 Cuomo said. 鈥淚t鈥檚 your suggestion Senator McConnell, pass the law. I dare you.鈥