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Buried in New York’s push for billions of dollars in federal aid to rebuild from superstorm Sandy was this financial tidbit: For all its wallop, the storm didn’t really pummel state tax receipts.
“There hasn’t been a significant variance,” Gov. Andrew M. Cuomo said when asked what he gleaned from the weekly tax-receipt reports since the Oct. 29 storm. New York projects a $1 billion deficit when the fiscal year ends, a number that hasn’t changed.
And while the White House $60 billion aid proposal for New York and New Jersey was about $19 billion less than requested, it was in the range officials said they expected.
(Meanwhile, repair estimates for LI are estimated to exceed $500 million, as reported here).
Photo: Spage’s Pharmacy in St. James carries on after superstorm Sandy took out electrical power, phone and the Internet. (Nov. 3, 2012)