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How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

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The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
September 11

New York Governor Cuomo Calls for Expansion of 9/11 Victims Compensation Fund

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Natasha Bach
Natasha Bach
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By
Natasha Bach
Natasha Bach
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September 11, 2018, 8:40 AM ET
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New York Governor Andrew Cuomo wants to ensure that 9/11 victims will continue to receive appropriate compensation.

The 9/11 Victims Compensation Fund, which was first created after the attacks on September 11, 2001, was intended to compensate the people injured or killed by the attacks. It was then reopened in 2011, expanded to compensate first responders and those who suffered health problems in the years following the attack.

The fund has doled out close to $4.3 billion to date. But now, Cuomo fears the money could run out.

Pointing to a New York Daily News report, the Governor’s office noted that it has seen an uptick in the number of people applying for funds. Yet the fund has a total of $7.3 billion dedicated to the sufferers, which they fear could be inadequate to compensate everyone.

“Some are suggesting that we dilute compensation to the next rounds of applicants due to diminution of funding,” Cuomo’s office wrote. “That is exactly the wrong approach. All are equally heroes to the nation, and all should be equally and fully funded.”

The governor instead suggested that Congress renew and expand the program, saying that “In New York, we will always stand with the victims of the attacks, and I will work with the New York delegation to lead the effort in ensuring that everyone receives the fair and ample compensation they deserve.”

The fund is currently set to expire in December 2020.

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