Superstorm Sandy racks up $32 billion in NY damages (+video)
Between the state of New York and New York City, hurricane Sandy has cost about $32 billion in losses. State and local governments already facing financial strain will turn to the federal government for aid.
Top political leaders in New York put their heads together Monday on big requests for federal disaster aid as Gov. Andrew Cuomo announced that Superstorm Sandy ran up a bill of $32 billion in the state and the nation's largest city.
The cost is for repairs and restoration and does not include an additional accounting of over $9 billion to head off damage in the next disastrous storm, including steps to protect the power grid and cellphone network.
"It's common sense; it's intelligent," Cuomo said. "Why don't you spend some money now to save money in the future? And that's what prevention and mitigation is."
New York taxpayers, Cuomo said, can't foot the bill.
"It would incapacitate the state. ... Tax increases are always a last, last, last resort."
Cuomo met with New York's congressional delegation to discuss the new figures and present "less than a wish list." The delegation, Cuomo and Bloomberg will now draw up a request for federal disaster aid.
States typically get 75 percent reimbursement for the cost of governments to restore mass transit and other services after a disaster.