Monday, May 25, 2020

Tsunami...

Surge in Ridership Pushes New York Subway to Limit - The New York ...

Jersey Gov. Phil Murphy on Sunday warned that key employees -- including health care workers, firefighters, police officers and teachers -- could be laid off if the state does not receive additional funding from the federal government.

The Democrat  have called for additional federal assistance while the White House is reluctant to provide additional funds to states. On Friday, Murphy announced the state is estimated to have a revenue loss of $10 billion.

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 dollars, which is projected to total $61 billion dollars over the next four years.
White House economic adviser Kevin Hassett on Sunday said " there should be a data analysis on state budget shortfalls and that some state's requests are "radically more money than the expected shortfall for the year."

No comments:

Post a Comment