NYS Comptroller says the state needs federal aid to move forward
Apr 27, 2020
Comptroller Tom DiNapoli met virtually with Greater Rochester Chamber of Commerce President and CEO Bob Duffy on Monday to give an update on the financial impacts of COVID-19 in New York State.
Gov. Cuomo said on Friday that New York has lost $13.3 billion in revenue due to the COVID-19 crisis. He said it’s not legal for states to declare bankruptcy, as Senate Majority Leader Mitch McConnell has suggested.
DiNapoli echoed those thoughts saying, “The notion of bankruptcy for our state makes absolutely no sense and you can’t do it legally.”
DiNapoli said there has to be support from the federal government. “We really need Washington to take the next step and that is to provide budget relief.”
DiNapoli said if the state isn’t careful, important jobs may have to be cut in order to save money. Mayor Warren announced over the weekend that some of the over 3,000 people working for the City of Rochester and could be laid off or furloughed in the coming weeks.
The city said the move will “protect the financial well-being of the city and to continue to provide essential services while protecting tax payers.”
“It’s not because of mismanagement or poor panning,” DiNapoli said. “No one could have planned for this, no one could have an anticipated a freeze of the economy.”
Last week, Gov. Andrew Cuomo deputized Duffy as a special volunteer advisor to oversee the reopening of the Rochester and Finger Lakes region. In a News 8 special on Friday, Duffy answered the questions our community submitted about this pandemic; what it will take to reopen, how long can the shutdown last, and more.