3/26, 4:45 PM (Source: TeleTrader)
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Cuomo: NY state losing $10B to $15B amid epidemic

New York Governor Andrew Cuomo announced on Thursday that the estimated loss of revenue for his state amid the coronavirus crisis is between $10 to $15 billion. "That's a ton of money," Cuomo said at his daily COVID-19 news briefing.

Speaking about the economic consequences of the virus outbreak, Cuomo explained that the increased expenses from the pandemic coupled with the loss of revenue from closed businesses during this time are straining New York's budget.

The $2 trillion stimulus bill expected to pass Congress on Friday, however, does not address these problems of local and state governments, Cuomo added.

Breaking the News / JC