Local governments around New York are receiving billions of dollars in combined aid from the federal government to offset the revenue losses created during the pandemic, and a think tank is tracking where the money is going.
The Rockefeller Institute this week released an analysis reviewing how the money will be sent to state, county, and individual local governments. All told, the funding amounts to about $980 per resident.
“One of the lessons we learned in the recovery from the Great Recession is that state and local governments are at the center of a robust economic recovery,” said Laura Schultz, executive director of research at the Rockefeller Institute and author of the analysis. “This relief package will help these governments provide assistance to their households and businesses and, importantly, stave off government cutbacks which would likely slow the recovery. Our analysis offers users the ability to interactively explore where the money from the American Rescue Plan Act is going.”
New York City will receive the lion's share of the aid, about $4.3 billion. Buffalo will receive $350 million; Rochester $207 million; and Syracuse $126 million. Buffalo and Niagara Falls are due to receive the largest allocations per capita, the review found.
The expectation is that with all the money flowing from Congress, the aid would avoid spending reductions or tax increases in order to recover revenue lost when businesses and other public gathering spots were ordered to close last year.