(Bloomberg) -- New York Governor Andrew Cuomo is seeking $15 billion from President-elect Joe Biden’s $350 billion stimulus proposal to balance the next state budget.
Cuomo, 63, said his spending proposal includes a worst-case scenario in which the state receives $6 billion, or 1.7% of the total. That amount would force New York to raise revenue, cut expenses and result in “significant borrowing,” he said.
“We’re asking for fairness, fairness from Washington,” Cuomo said on Tuesday during his budget presentation.
The governor also is asking for the incoming administration to repeal a $10,000 limit on state and local tax deductions, or SALT, passed in 2017. In New York, 52 of 62 counties saw taxes increase under the new law, according to Cuomo.