Dear Fellow New Yorker,
On February 14, 2009, I was proud to announce that preliminary calculation suggested that New York State is expected to receive at least $24.6 Billion in aid from the American Recovery and Reinvestment Act of 2009. With New York State at the epicenter of a nationwide financial crisis these funds will help us weather the current storm and provide critical resources for investing in our future.
The influx for federal funds does not mean, however, that New York can abdicate our responsibility at the state level to bring spending in line with what our government can afford over the long term, We still have to address a $13 billion deficit next year and a multi-year deficit of over $48 billion. Most of these recovery funds will be spent within two years, in some instances, sooner. Therefore, this federal stimulus legislation does not in any way diminish the need to reevaluate our operations and produce a smarter, less costly, more efficient government, We will need to be smart and strategic as well as transparent in how we spend these federal dollars. Congress has rightfully put a premium on transparency and accountability and this website will serve as a conduit for the state’s role in promoting that transparency and accountability.
The pages of econonmicrecovery.ny.gov will help you track how we spend those dollars and provide resources to governments, organizations and other entities wishing to submit proposals for funding.