NEW YORK — With an ongoing budget crisis, New York will be forced to take “very dramatic actions” if state doesn’t get $30 billion from the federal government, Gov. Andrew Cuomo said Thursday.
Cuomo warned there would be a recession if New York doesn’t get the funding it needs. Increased state spending on the coronavirus fight has put New York in an economic bind.
“We’re going to have to take very dramatic action and these dramatic actions, I believe, will be counterproductive,” Cuomo said. “We will have no choice because I don’t have a printing press like the federal government does.”
A new stimulus bill is still being debated in Washington. Democratic House Speaker Nancy Pelosi wants relief money for state and local governments, but there’s a rift over sending aid to local communities. Treasury Secretary Steven Mnuchin has met with Congressional leaders about the issue.
“The Democrats right now are insisting on over a trillion dollars to the state and local governments,” he previously said. “That’s something that we’re not going to do.”
Cuomo said New York’s budget right now is not really being determined by Albany; it’s being determined by Washington because of the financial help needed.
“This piece of legislation is unlike any other piece of legislation Washington has passed. They are deciding the state budget,” Cuomo said. “You tell me what they pass in the bill and I’ll tell you the consequences in New York. And I want to be clear on that because the next day after the federal piece of legislation passes, when I say we’re going to do X, Y and Z, nobody should be surprised. It will be a pure function of the legislation that they pass in Washington.”
The Associated Press contributed to this report.