Gov. Cuomo says $2 trillion stimulus bill is 'terrible' for New York

[turbinetree]

Source: Market Watch

Published: March 25, 2020 at 3:50 p.m. ET
By Beckie Strum

He also renews call for more ventilators as COVID-19 cases in the state rise

Gov. Andrew Cuomo ripped the U.S. Senate’s $2 trillion federal stimulus plan on Wednesday as inadequate for New York, the country’s epicenter of the COVID-19 crisis, while he renewed calls for the 15,000 ventilators the state will need in the next few weeks for the mounting victims of the virus.

“It would really be terrible,” Cuomo said in a news conference, adding that the state government would get $3.8 billion and New York City would get only $1.3 billion, despite having more people with coronavirus than anywhere else in the U.S. As of Wednesday morning,15,597 people had tested positive for the coronavirus in New York City, seven times the number of cases in all of California, and 192 have died.

Though “$3.8 billion sounds like a lot of money,” New York is looking at a budget shortfall between $8 billion and $15 billion, he said. The virus has already cost the state roughly $1 billion and could wind up costing several billion dollars by the end of the crisis, he added.

The Senate planned to vote Wednesday on the $2 trillion stimulus package, the biggest relief in American history, finalized in the wee hours of Tuesday night between senators and the White House. It was still hitting snags ahead of the vote as critics, like Cuomo, demanded changes. The House has not said when it would vote on the bill, which would then go to President Trump to sign.


Read more: https://www.marketwatch.com/story/gov-andrew-cuomo-says-2-trillion-stimulus-bill-is-terrible-for-new-york-2020-03-25?mod=home-page

[Afromania]

1. We got back 26 billion less than we sent last year.

Fuck this shit

[EarthFirst]

6. Yup.

.90 on the dollar; meanwhile the national average is $1.21

I just pulled up the DiNapolis summary for FY18. Posted below.

[DENVERPOPS]

13. Before I look, let me guess

That a Bunch of Red States in the South East U.S. leads the pack for money received vs sent?????? Plus a few other select states?

[mpcamb]

21. Mitch did it. "The House bill would have given us $17 billion. The Senate bill gives us $3 billion."

He and trump want to screw the state and Cuomo.

[DENVERPOPS]

23. My post in another place

The Republicans probably had these objections planned all along with no reason except to continue to muck things up and slow down the relief to a crawl.

FUCKING COCKSUCKING WORTHLESS MAGGOT PIECES OF SUB HUMAN EXCREMENT.........THEY ARE A FASCIST TYRANNY ALREADY.

How can a few piss ants yield enough power to stop this all on their own, without the rest of the Republican Senate being in on it????
I'm not the least bit religious, but I sure hope there is some sort of Judgement Day for the thousands of these fuckers that have destroyed this nation, and gloated while doing it. What a bunch of truly SICK excuses for human beings........
Their objections are nothing but pure pandering to the rich to get their continued backing for their continued plundering and pillaging everyone and anyone in the lower 99%.

[DENVERPOPS]

15. Hey EF

where can I find those figures "posted below"????? Thx

[EarthFirst]

17. Sorry...

The sarcasm was lost in my response; I went to edit and I self-deleted instead...

The NYS FY18 Comptroller’s Report:

https://osc.state.ny.us/reports/budget/2020/federal-budget-fiscal-year-2018.pdf

[Igel]

26. Let's not worry about the reasons for that.

Having corporations headquartered there, so income produced in other states gets credited to the company.

There's Wall Street, in which everything there is obviously produced locally. When they trade oil futures, it's because the oil's produced and workers live on Long Island.

Same for trade going through the ports.

New York benefits greatly from having the rest of the country there to support it.

Then there's the simple fact that salaries for the same jobs are higher in NYC. It's a point of pride and honor. But at the same time, with a one-size-fits-all tax structure it means that there's more income taxed at a higher level, so now it's a point of pride, now it's grounds for claims of victimization.

Now, I don't like one-size-fits-all laws. On the other hand, from living in west New York state I know that fairly often NYS was the tail that thought it wasn't just the dog but a frigging newfie with west New York fleas, so that many of the laws and regulations were sized to the one NYS and assumed to fit all.

[bucolic_frolic]

2. It just doesn't sound like COVID-19 will be gone by Trump's Easter Deadline

That's 2.5 weeks. 18 days. Pennsylvania delayed their April 28 primary because they expect to be in the midst of their own surge in cases by that time.

Trump is seriously all fouled up.

[sabbat hunter]

3. On the local news

they said that it is expected that NYC will peak in about 3 weeks in cases of CoronaVirus. That means we are at LEAST 6-8 weeks before we can go back to work.

[enough]

4. Of course it won't. NT

[customerserviceguy]

7. He's not the collection agency

The IRS is.

[EarthFirst]

8. I was being facetious; doesn't translate via text I suppose... nt

[customerserviceguy]

9. That's a limitation

of the written word, versus the spoken word.

[Princess Turandot]

11. States actually never touch federal tax payments..

Most employers are required by law to set up a dedicated bank account for federal tax withholdings, FICA payments etc The $$ is then electronically transferred directly to the feds.

[I_UndergroundPanther]

10. Probably no help for not working poor people

Nothing for disabled people or for people on Medicare.

I've been broke since the tenth trying to prepare. Running out of everything and have no flu medicine at all.
Guess I will suffer if I catch it.

Why are the most vulnerable people in this country always left out of bills that are supposed to help?

[McCamy Taylor]

14. Why don't the Wall Street billionaires help out?

[DENVERPOPS]

16. That's a good one

Haven't you been paying attention for the last forty years??????? Especially the last twenty years???????

And even more especially the last 3 years.......

[tclambert]

20. Help out? They have their hands out. They think they've been hurt worse than anyone.

Their precious stock portfolios have LOST VALUE. Good God, if this keeps up, Betsy DeVos may have to sell one of her yachts. How is one supposed to make do with only nine yachts?

Luckily, Senate Republicans pushed for a yacht-owners relief package in the recently passed stimulus bill.

[Thekaspervote]

18. There are 2 more bills to come? Correct? Or did I misread that? Anyone?

[rockfordfile]

22. We can't afford that

[Evolve Dammit]

19. Drumpf hates Cuomo. He has turned his back on NY, CA, IL, MA and will punish as much as he can.

That's what he does. MSM says nothing about his M.O. He won't ever change.

[Polybius]

24. So why did Schumer say it was a very good bill?

He said Democrats got a lot of what they wanted.

[Igel]

25. Because it targets employers and keeps them afloat, with oversight

(the oversight much like it was in 2008/09, so that's not a huge innovation)

But it sends money to workers.

It does not send money to state governments, it's not a government bailout.

But if airlines go under, for instance, that's hundreds of thousands of jobs that won't easily come back until they exit bankruptcy, somebody scrapes together the money, equipment, and expertise to recreate those structures. Which will involve not just recreating the structures, but also getting certification and licensing in various ways, and reestablishing *their* supply chains that'll have been inactive for months.

The economy is like an elephant, and very few of us see anything more than perhaps part of a foot, a bit of the tail, a small portion of ear or perhaps part of a trunk. And then each says the economy is in its entirety merely a foot, a tail, an ear, or a trunk and all the talk of other things are just lies (and that odd animal sound or lumps of brown, warm stuff ... who can figure out what *those* are?).