Even before the storm, the Cuomo administration had projected a $1 billion state deficit for the fiscal year with a $132 billion government budget. That deficit was expected to grow after the storm. Cuomo also raised the issue of more frequent extreme weather and studying what measures are needed to better protect New York's low-lying coastal areas.
Meanwhile, New York City is pouring $500 million into repairing public schools and hospitals damaged by the storm. With 23 schools and two city-owned hospitals still closed two weeks after the storm, Mayor Michael Bloomberg and other officials announced plans Monday to put up $200 million for critical fixes to schools and $300 million for hospitals. That may well not be the final price tag, but it's enough to get going robustly on needs including new boilers, new electrical systems and roof repairs, city officials said. Officials plan to seek federal reimbursement for the school and hospital repairs.
Associated Press writers Alicia Caldwell in Washington and Jennifer Peltz in New York contributed to this report.
If you owe under $729k you may qualify for 3.05% APR Govt Refi Plans.