NY Gov. Andrew Cuomo presents Fiscal Year 2022 Executive Budget

NY Gov. Andrew Cuomo presents Fiscal Year 2022 Executive Budget

NEW YORK (WABC) — New York Governor Andrew Cuomo presented the state’s Fiscal Year 2022 Executive Budget Tuesday.

Cuomo started the briefing speaking about the war against COVID, saying that last year was about fighting the war, this year is focused on reconciling the actions and costs for the battle thus far by determining fiscal liability and responsibility, and next year is all about reconstruction and rebirth.

The governor said New York has to manage a $15 billion deficit, labeling it as “impossible and beyond what we can do.”

Cuomo referred to a $10 billion deficit that had to be dealt with before, but for $15 billion, he says he is going to need assistance from the federal government.

READ MORE  COVID Live Updates: FDA approves first OTC test for coronavirus

President-elect Joe Biden’s proposal of the American Rescue Plan, which looks to fund $350 billion to state and local financing, is something Cuomo is heavily relying on.

The money would be distributed to testing, vaccines, schools and families.

But the questions Cuomo ponders are how the money will be distributed to state and local funding?

New York state’s budget is constructed with two options based on the plan:

-NY state receives a “worst case” scenario of $6 billion from $350 billion
-NY state receives a “fair funding” scenario of $15 billion from $350 billion

Cuomo says dramatic budget cuts would hurt New York state for the long-term and delay recovery.

READ MORE  New video released in investigation into disappearance of Jennifer Dulos

“If federal government doesn’t fund state and local government, it’s going to hurt all New Yorkers,” he said.

ALSO READ | 18 family members get COVID-19 after holiday gathering

*Follow us on YouTube
* More local news
* Send us a news tip
* Download the abc7NY app for breaking news alerts

Copyright © 2021 WABC-TV. All Rights Reserved.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.