Cuomo: New York Will See Higher Taxes, Tolls Without Federal Aid
Gov. Andrew Cuomo warns he may be forced to raise taxes and tolls due to the coronavirus pandemic.
On Tuesday, Cuomo said the state is looking at a $30 billion revenue shortfall over the next two years and the state has run deeper into the red due to the coronavirus crisis. The governor continues to call on the federal government to provide relief to New York at the state and local levels.
"What the federal government does this week will determine your property taxes, your school's budget, your subway fare, your bridge tolls and more," Cuomo tweeted."Without state and local aid in the stimulus package, there will be painful cuts. New Yorkers are watching and waiting."
Schools hospitals and local governments will see 20% cuts if the federal government doesn't help, Cuomo added during a Tuesday conference call.
"(The) money has to come from somewhere. There are no more tomorrows. This could not be clearer. Those are the numbers. Whatever that bill says, that’s what this year’s budget is," Cuomo said.
Cuomo told New York senators to not pass the latest Republican stimulus bill which Cuomo says doesn't provide enough aid for states.
He also said the massive budget gap won't be closed by taxing over 100 New York billionaires.
"The numbers are too large for that," Cuomo said on Wednesday, according to Gothamist. "You’d have to tax each of them a half-billion dollars, and then you’d have no billionaires left.”