Dive Summary:
- New York Governor Andrew Cuomo will ask the federal government for $30 billion in aid after the devastation wrought by Hurricane Sandy, according to an administration official.
- The proposal is likely to include $3.5 billion to repair the transportation system, $1.65 billion to repair victims' homes, $1 billion to cover local government costs and $13 billion to compensate for economic losses.
- Governor Cuomo plans to reconstruct the state's energy grid to prepare it for further onslaughts of extreme weather with a $30 billion smart grid project over the next 10 years.
From the article:
"... Economic loss and damage from Sandy to New York state alone may total $33 billion and add to the already $1 billion budget deficit the state faces, Cuomo has said. About $13 billion of the requested federal payout would offset economic losses, the official said. Cuomo is scheduled to hold a news briefing in Manhattan today to discuss the request.
'This is a staggering number, especially with the financial situation we have been in,' Cuomo said at a Nov. 8 news briefing in Manhattan. ..."
