Cares Act Delivers More Than $112 Billion To New Yorkers

Posted on March 29, 2020, 7:56 pm
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U.S. Senator Charles Schumer announced updated impact numbers related to the bipartisan “Corona 3” legislation that sailed through the Senate with a vote of 96-0, passed the House and was signed by the president. Schumer is now able to announce more detailed numbers in addition to the $40 billion he announced moments after the bill first passed the Senate on Wednesday.

“The “plus” in the forty-billion we were able to announce the other day has now begun to reveal itself, and the additional dollars will mean critical help for New York,” said U.S. Senator Charles Schumer. “There is much more to be done in order to vanquish and recover from this horrible virus plaguing our great state and nation, but each day we make new progress, and we continue the collective fight. We will not stop, and I will not stop until we are back to bustling.”

Schumer detailed new numbers related to dollars hospitals would receive directly, small businesses, even the public schools. The new dollars, including the $40 billion Schumer announced Wednesday, now total $112 billion.

“That is $112 billion for workers, families, healthcare and New York,” said Schumer. In the month of March alone, the state was able to secure more than $15 billion in direct aid it has begun to access immediately. “These numbers are good, but like I said, we want to do more, because we are an epicenter,” Schumer added. In “Corona 2” legislation that passed earlier this month, the state received $5.1 billion in direct FMAP relief, New York counties got the remainder. As part of “Corona 3,” which just passed, the state received $5.2B via the State Relief Fund, $4.1B for state transit, $3.8B of which went to the MTA, $1.1B in state education stabilization funds and $162M in state child care funds.

Schumer also explained that he has spoken with Secretary Mnuchin about New York’s funding and says the Secretary has promised to help New York with its ability to use each and every dollar it has received. The details of the latest projections appear in the breakdown below.

NEW YORKERS ESTIMATED TO RECEIVE MASSIVE SUPPORT IN CRISIS

$33.8 Billion – Small Business Administration payroll relief to New York small businesses.

$25 Billion – Hospital and other medical facilities. For protective equipment for health care workers, testing supplies, staffing and new construction to expand services.

$16 Billion – Unemployment Compensation on Steroids for New Yorkers.

$15 Billion – Direct cash payments. $1,200 for individuals and $2,400 for couples making less than $75,000 and a graduated smaller amount for those making up to $99,000.

$7.5 Billion – Disaster Relief Fund through FEMA programs, estimated using current rate of payments to New York.

$7.5 Billion – State and local coronavirus relief fund.

$4.1 Billion – Transit Systems, especially the MTA, which is directly supported by the NY state budget.

$2 Billion – Strategic National Stockpile.

$1 Billion – Elementary and Secondary School Emergency Relief Fund – K-12.

OTHER CRITICAL FUNDING SOURCES FOR NEW YORK:

$690.4 Million – Airport Improvement Grants

$193 Million – Community Development Grants

$191.4 Million – HUD Homeless Assistance, Emergency Solutions Grants

$164.6 Million – Governor’s Emergency Education Relief Fund

$162.4 Million – Child Care Development Block Grants (CCDBG)

Total: $112 Billion+

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