N.Y. Comptroller DiNapoli recommends NYC come up with post-coronavirus fiscal plan, pans borrowing
ALBANY — State Comptroller Thomas DiNapoli is urging New York City to come up with a common sense fiscal plan to address economic uncertainty caused by the coronavirus pandemic.
In a report issued Thursday, DiNapoli panned the city’s proposed plan to borrow funds to cover operating costs and called for federal help to assist the Big Apple in its recovery.
“The scope and devastation of the COVID-19 pandemic has created a significant revenue loss for the city while driving up costs to deal with its effects,” DiNapoli said. "Past experience indicates the city would be well-served by developing and considering all options, in order to identify if and when deficit financing is truly needed.
“Washington, for its part, can, and must, help the city weather this colossal economic storm,” he added.
Read more: https://www.nydailynews.com/news/politics/new-york-elections-government/ny-nyc-borrowing-dinapoli-report-20201029-dvguxdg4kzethmniot5jwfwtn4-story.html