NEW YORK (1010 WINS) -- NYC Comptroller Scott Stringer updates 1010 WINS' Brigitte Quinn with the latest coronavirus/COVID-19 news as it relates to the city's economy at large.
"What we have to do now is do everything we can to stop this virus from spreading and protect our people," Stringer tells 1010 WINS, "but this is going to come at a tremendous financial cost."
"I estimate within the next six months we could lose close to $3.2 billion in lost tax revenue, which means we have to start thinking strategically about our budget and how to make sure our city remains strong economically."
"Part of what we have to do is look to get as much revenue set aside as possible," Stringer says.
"I want agencies and commissioners looking at efficiency saving. We've done this before, we haven't done it in many years. That's an exercise that can look for saving that doesn't affect services or people... Obviously services like the health department and other agencies doing the important work fighting a virus we would not ask for the same amount of saving."
"Again this is an exercise. Maybe a federal bailout exempts us from having to do this exercise and ultimately implement it, but it would be malpractice not to start thinking about our budget and the economic future of the city. That starts with our agency efficiency and then we move from there."
Listen to the full interview above and stay with 1010 WINS for continuing coronavirus / COVID-19 coverage.