President Trump suggested Monday that the federal government should not be responsible for bailing out states and cities that are struggling financially due to the coronavirus pandemic.
State and local governments have in recent weeks pressed for federal aid as the coronavirus pandemic dries up many of their revenue sources, threatening a fiscal catastrophe. State and local governments have said they may need as much as three-quarters of a trillion dollars.said he would prefer
states to be able to declare bankruptcy rather than have the federal government provide hundreds of billions in relief to state and local governments. New York Gov. Andrew Cuomo, a Democrat, later on Monday responded to Trump by pointing out that New York is one of the states that typically gives back to the federal government more than it receives.
"If you want to go to who gets bailed out and who paid what, nobody would be bailing out New York State. New York State has been bailing them out every year for decades," he said."If you want to do an analysis of who is a giver and who is a taker, we are the number one giver."White House senior adviser Kevin Hassett said last week thatunless Congress changes the law so the federal government is"probably" going to have to assist state and local governments further.
Though Democrats sought to include roughly $150 billion in funding to state and local governments in the latest
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