New York Reaches Deal on $212 Billion Budget to Jump-Start Recovery
The New York Times
Gov. Andrew M. Cuomo and the Legislature have agreed to raise taxes on the wealthy and give aid to renters, businesses and undocumented immigrants.
New York State leaders announced they had reached an agreement on Tuesday on a $212 billion state budget that includes tax increases on the wealthy as well as substantial relief for renters, undocumented immigrants and business owners hit hardest by the coronavirus. Many of the budget’s key initiatives are aimed at jump-starting the recovery of a state that was the onetime epicenter of the pandemic. It includes $2.3 billion in federal funds to help tenants late on rent; $1 billion in grants and tax credits for small businesses that suffered from the economic downturn; and a $2.1 billion fund to provide one-time payments for undocumented workers who did not qualify for federal stimulus checks or unemployment benefits, according to budget highlights released by the governor’s office.
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