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Comptroller finds that New York’s financial situation could be improving

New York State’s financial situation could be improving.

A report by Comptroller Tom DiNapoli found that federal aid combined with better than anticipated tax revenue could equate to modest budget surpluses.

The state’s unemployment rate remains at 8.2%, as of December, but the financial status of the state could mean good things for businesses- as the state weighs ways to help them rebound in the coming months.


“One year after the first case of COVID-19 was confirmed in New York, we continue to suffer unimaginable losses. Too many families have lost loved ones, huge numbers of New Yorkers have lost their jobs and we are still dealing with the consequences of when our economy came to a standstill,” DiNapoli said in the report. “There are signs our economy is rebounding and the federal government will soon provide aid to suffering New Yorkers and devastated communities. But this recovery is fragile, and I urge state leaders to consider the long-term impact of this year’s actions to avoid tougher choices later.”

Gov. Cuomo is seeking a total of $15 billion in direct aid from the federal government as part of the larger stimulus plan being moved through the U.S. Senate now.



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