NY Governor Andrew Cuomo sharply criticized Senator Mitch McConnell for his suggestion that states facing budget crises due to coronavirus should declare bankruptcy, a day after calling it “one of the really dumb ideas of all time.” by skleb1234
Like many others, New York is facing large budget shortfalls due to the pandemic, with Cuomo and other governors repeatedly calling for more federal funding to states.
New York is expecting roughly $13 billion in lost revenue due to coronavirus this year, amounting to a 14% revenue decline, Cuomo said. Between 2021 and 2024, the state projects it will lose another $61 billion as a result of the public health crisis. “Some people have suggested that states should declare bankruptcy,” Cuomo said, referring to Senate Majority Leader Mitch McConnell’s comments on Thursday. “I think, as I said yesterday, it’s a really dumb idea.”
Putting aside the “absurdity” and questionable morality of the proposal, the New York governor said, states can’t even legally declare bankruptcy unless a federal law is passed allowing them to do so. “Pass the law, I dare you,” Cuomo told McConnell during his press conference. “Pass that bill, if you weren't just playing politics.”“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,” Cuomo said.The “good news,” according to Cuomo, is that New York’s total number of coronavirus hospitalizations continues to decline.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
New York's Cuomo to McConnell on state bankruptcy: Watch the market tankNew York Governor Andrew Cuomo on Thursday derided Senate Republican leader Mitch McConnell's suggestion that states whose finances are depleted by the coronavirus epidemic could declare bankruptcy as a 'really dumb' idea and warned that financial markets would tank if that were allowed to happen.
Baca lebih lajut »
Cuomo bashes McConnell for suggesting hard-hit states declare bankruptcy instead of asking for bailoutsSchumer fires back at McConnell for suggesting hard-hit states declare bankruptcy instead of asking for bailouts: 'We're talking about jobs for police officers, firefighters, teachers... This isn't abstract.'
Baca lebih lajut »
Coronavirus updates: Pandemic won't be over 'anytime soon,' Cuomo says
Baca lebih lajut »