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GovCuomo Letter 12-21-2012

GovCuomo Letter 12-21-2012

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Published by: liz_benjamin6490 on Dec 21, 2012
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12/22/2012

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December 21, 2012The Honorable Andrew M. CuomoGovernor of New York StateNYS State Capitol BuildingAlbany, NY 12224Dear Governor Cuomo,The people of New York are working to recover from the devastation left in HurricaneSandy's wake. But as you know, much remains to be done. While some tragic losses can't bemended, we can - and should - do our best to rebuild, to limit the suffering inflicted and thedisplacement endured, and to do our best to prevent such destruction from natural disasters in thefuture.In that spirit, I am sure that citizens of New York who faced untold damages on the morningof October 30, were happy to see their Governor fighting for federal disaster relief. In the manyweeks since Hurricane Sandy made landfall, you have been in Washington, D.C. lobbying theWhite House and members of Congress to provide disaster relief assistance for your state.Unfortunately, with this Congress nothing is guaranteed - despite the fact that natural disastersknow no political affiliation.The Senate's $60.4 billion Hurricane Sandy relief bill slogs along at an excruciatingly slowpace. For many New Yorkers, the longer they wait to receive those funds, the more their pain isprolonged. You seem to understand this and have been increasing the pressure on Congress to act -having been quoted recently saying that "There is no Plan B. Plan B is to go back to Plan A."However, it is curious for you to say this considering that New York does in fact have a PlanB for disaster relief: stop refunding the New York State stock transfer tax. With each purchase ofstock, New York collects a tiny tax - pennies per share. New York State then instantly rebates100% of the tax back to Wall Street. Each year, because of this arcane process, New York loses outon $16 billion of revenue.In the vacuum left by Congress, tapping this could be a significant stopgap measure to helpNew Yorkers begin to recover - and to recover now: A source of funds. And the ongoing revenuefrom a stock transfer tax could be used to start the process of establishing storm surge barriers,bulkheads, levees, dikes, and beach strengthening with sand dunes to limit the impact of futurehurricanes.I hope you will consider this proposal more seriously this time. New York can't wait.Sincerely,Ralph NaderP.O. Box 19367Washington, D.C. 20036202-387-8030info@csrl.org 

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