New York, NY—Congresswoman Carolyn B. Maloney (NY-12) led a press conference this morning at Union Square to announce that New York is projected to receive $23.3 billion in aid as part of a bill recently passed by the House Committee on Oversight and Reform, which she chairs.
Part of the overall President Joe Biden’s $1.9 trillion COVID-19 relief package, the bill allocates $350 billion to state and local governments nationwide. And out of that pot of money, New York is projected to receive $23.3 billion—$12.7 billion going directly to the state government and $5.6 billion for New York City.
Rep. Maloney was joined by city and state elected officials, who thanked the Congresswoman for securing the necessary federal funding to help New York contend with and eventually recover from the virus.
The inclusion of the $350 million in aid to cities and localities in Biden’s stimulus package represents a significant development as the aid was rejected by Republicans in the coronavirus relief packages of 2020.
“As you may have remembered during 2020, one of the biggest divisions between the Republicans and Democrats was [authorizing aid] to cities, states and localities,” said Rep. Maloney.
“So, I’m proud to report that the direct aid portion that went through the committee that I now chair—the Oversight and Reform Committee—includes over $350 billion for cities and states across the country. I’m especially proud that out of the $350 billion, New York State and its localities will get an estimated $23.3 billion, with $12.7 billion going to the state, and $5.6B for the city.”
Rep. Maloney added that her House Committee will be voting on this portion of the stimulus package this Friday and then sending it to the Senate.
“We are planning to pass this if we have to with just Democratic votes, and this is just the beginning. After the rescue plan will come the Recovery plan, with infrastructure payments and other initiatives. So, hope and help are on the way,” Rep. Maloney said.
A couple of the elected officials at the press conference, while thanking the Congresswoman’s efforts to secure billions in federal aid for New York, also said it was incumbent upon the state government to act.
“This bill is truly going to help people. But I also want to make it known that at the state level we have a responsibility as well. This is our moment to honor the work that our Congresswoman has done, that our Congressional representatives have done, by fighting to secure more relief from the state as well,” said New York State Senator Julia Salazar (D-18).
State Senator Brad Hoylman (D-27) echoed Sen. Salazar’s comments. He’s one of the sponsors of the Invest in Our New York Act, a legislative package of six bills that aims to raise revenue by, among others, increasing taxes on New York’s 130 billionaires.
“We have to do our part in Albany. That’s why I’m a co-sponsor of the Invest in Our New York Act. One of those bills that I sponsored would claw back the corporate tax cuts, which reduced the corporate tax rate by 10 percent for big companies in the city,” said Sen. Hoylman.
“That could generate up to $9 billion additional dollars a year for New York and New York City residents who have been suffering so mightily under this pandemic.”
Meanwhile, Councilmember Ben Kallos (D-5) noted that the $5.6 billion earmarked for New York City is a huge game changer because it’ll help offset, partially, the city’s budget deficit. Mayor Bill de Blasio has warned of big cuts in services and layoffs to close the $8 billion budget gap if federal funding isn’t forthcoming.
“If we can get another $3 billion from Albany we are done, so this is a huge game changer,” said Kallos.
“This takes us from having to find $8 billion in the city budget, which is about 10 percent of our budget to $3 billion, so this gets us through our budget in July and gets us to a very good and balanced budget on July 1. If we can get it through Congress with the Congresswoman’s leadership and [we get] another $3 billion from Albany, then we’ll be completely set, and we’ll be able to start restoring a lot of the services that have been rolled back, such as universal 3-K.”