To date, the city of New York, the most populous city in the U.S. and the hardest hit by the COVID-19 pandemic, has only received 12% of federal PPP loans. Like many cities and counties around the country, New York is counting on federal loan aid to help businesses and support in the reopening of public schools. NYC Comptroller Scott Stringer joined Yahoo Finance to discuss why the city needs a stimulus package that includes funding for education.
“We need to have a stimulus package that is also gonna include money for school re-openings; this is not a cheap undertaking,” he said.
“This is really a matter of putting dollars to work so that we can create a school plan that works for kids, whether it’s [online learning or] classroom learning. This is the challenge of every big city and every small county in America right now,” he stressed.