ALBANY – Gov. Andrew Cuomo outlined his annual budget proposal Tuesday, saying New York is facing a crossroads and only assistance from the federal government will help to keep the state moving forward.
The governor actually presented two executive budgets instead of one. The first budget showed what would happen without the needed federal funding to help close a $15 billion budget gap.
The governor said taxes would be hiked, education cut by billions of dollars, proposed projects delayed, and the state would need to borrow heavily, leaving future generations to foot the bill. And that’s if the Federal Government is able to deliver $6 billion in aid to the state.
But the second budget showed that the state could restore funds that were delayed last year, lower taxes on the middle class, build housing and help small businesses. But that all depends on the federal government providing the state $15 billion in aid.
Cuomo said that Washington’s “negligence” toward handling COVID-19 should leave the federal government financially responsible for its ill effects on the Empire State. And he threatened to sue the Biden administration if New York does not receive $15 billion in federal aid.
It’s not known just how much money President-Elect Joe Biden’s proposed $1.9 trillion “American Rescue Package” would provide directly to the State, but it does includes $350 billion for state and local funding.