Cuomo has really stepped up in this crisis. He has been the voice of leadership in opposition to the criminal clown show in Washington. Speaking about the bill that Chuck Schumer called “a very good bill":
"It means $3.8 billion. $3.8 billion sounds like a lot of money, but we’re looking at a revenue shortfall of $15 billion. This response to this virus has probably already cost us $1 billion, and it will probably cost us several billion dollars when we’re done," he added.
Cuomo said the $1.3 billion New York City would get is "a drop in the bucket as to need."
Gov. Cuomo: 'Terrible' Stimulus Bill Is 'Drop in the Bucket' for NY
Gov. Andrew Cuomo said Wednesday the $2 trillion federal stimulus bill would be "terrible" for the state of New York, which faces an accelerating rate of infection that doubles case count every few days and an economic shortfall worsened by each day of response to the crisis, NBC New York reports.
The economic rescue bill, which still needs a vote in the Senate before it can get cleared in the House for President Donald Trump's signature, would give New York $3.8 billion, a "drop in the bucket" compared with the up to $15 billion Cuomo says the state needs for the crisis.
"We have 15 times the problem of the next state. Every state will have a different apex with this virus. New York is first," Cuomo said
While the epicenter of the virus, NY is left starved for support the bill will deliver $$$$trillions in corrupt corporate handouts. Pennies for the vast majority and $$$$Trillions for Wall Street. Just what you would expect from our “leaders” in the Senate.
Final text of the bill has not been released, but according to a legislative draft, the new law would establish a $4.5 trillion corporate bailout fund overseen by Treasury Secretary Steve Mnuchin, with few substantive constraints. The bill permits bailed out companies to lay off up to 10% of their workforce over the next six months, with no restrictions thereafter. Mnuchin would have authority to waive any upside for the public in its new investments, and the bill’s restrictions on stock buybacks at bailed-out firms are too temporary to be significant. Bailed out companies could even pay dividends to their shareholders.
The oversight terms that Democrats secured are purely cosmetic, replicating the toothless provisions of the 2008 bank bailout that enabled watchdogs to report abuse but not actually prevent or rectify it.
It’s not just NY that gets shafted in this compromise,
Just Say No to the Coronavirus Coup
“Economic Liberties is deeply concerned that the legislation being contemplated by Mitch McConnell and Chuck Schumer will not address the economic and health crisis caused by the coronavirus,” said Economic Liberties Executive Director Sarah Miller. “It is a panicked and reckless legislative response to the criminal negligence of this administration.” “The current approach represents a failure of leadership, with the House absent and Senate leaders secretly cutting a deal that will be presented to Americans as a fait accompli. None of this is necessary. The House should immediately begin debating a different set of measures,” added Miller.
This is Democratic leadership?