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Home » Valentine's Day » Governors renew call for federal bailout as budget deficits climb, stimulus needs grow in US

Governors renew call for federal bailout as budget deficits climb, stimulus needs grow in US

While there has been some discussion about a possible stimulus package and broader rescue bill for specific industries – states like New York are struggling.

The deficit has grown to more than $14 billion in recent projections, with multi-year deficits of $60 billion possible in the next three.


In his capacity as Chair of the National Governors Association, Governor Cuomo said it’s time for bi-partisan action.

“Every major economist, regardless of party or ideological bent, came to the same conclusion after the 2007-09 financial crisis: The lack of support for state and local governments slowed the nation’s economic growth for more than a decade,” Cuomo said. “As we begin to recover and rebuild from the COVID-19 crisis, we can’t afford to repeat the mistakes of the past — we know now that there can be no national recovery if state and local governments aren’t solvent. We appreciate the House of Representatives for putting forth a new proposed relief package last night. It’s our hope that the latest proposal will reenergize the negotiations.”


He said that the Association is hopeful that a relief package will support the needs of people – including healthcare workers, firefighters, police officers, and teachers.

“We urge the Senate and White House to meet them at the negotiating table. This is a national problem, and it demands a bipartisan and national solution,” Cuomo concluded.

Aid for local communities and the state are both priorities, according to the Governor.