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Thursday, January 21, 2021
Nos Quedamos' PHOENIX Newsletter - The Bronx People's Platform Launch Event - January 22, 2021 @ 5:30PM
An Update from State Comptroller DiNapoli: NY's Economy & Finances in the COVID-19 Era
Executive Budget Projects Lingering Economic Pain
The economic outlook contained in the Governor’s Executive Budget proposal for State Fiscal Year 2021-22, released this week, anticipates continuing but slow improvement for employment and other economic indicators, as well as tax revenues. Real U.S. gross domestic product is projected to increase by 4.4 percent in calendar year 2021 after an estimated decline of 3.4 percent in 2020, according to the Division of the Budget (DOB). While the State has regained close to half of the 1.9 million jobs lost in March and April of 2020, a return to pre-pandemic employment levels is not expected until 2025.
“The COVID-19 pandemic’s damaging effects on labor markets are still mounting and will be a major obstacle to a balanced economic recovery,” according to the Executive Budget Financial Plan. After a decline of 5.7 percent in 2020, U.S. employment is projected to increase by 2.7 percent in 2021 and reach its pre-pandemic level in early 2023, according to DOB.
For more current highlights on the impact of the COVID-19 pandemic on the State’s finances and economy, visit our web page. Additional topics this week include:
- Paying household bills: A difficult challenge for more New Yorkers
- Unemployment payments declined in recent months
- An update on New York's budget and spending
The State Comptroller's office is committed to keeping New Yorkers regularly updated on the State's economy and finances.
Governor Cuomo Updates New Yorkers on State's Progress During COVID-19 Pandemic - JANUARY 21, 2021
9,055 Patient Hospitalizations Statewide
1,560 Patients in the ICU; 1,011 Intubated
Statewide Positivity Rate is 6.18%
174 COVID-19 Deaths in New York State Yesterday
Governor Andrew M. Cuomo today updated New Yorkers on the state's progress during the ongoing COVID-19 pandemic.
"COVID-19 is continuing to spread across the state, and the footrace continues between our ability to quickly distribute the vaccine—hampered only by supply—and the virus' new strains and new cases," Governor Cuomo said. "Our large network of distribution sites is ready, willing and able to get more vaccines to New Yorkers, faster—all we need is the supply. In the meantime, New Yorkers who aren't yet eligible should stay vigilant as we get through the winter, washing their hands, wearing masks and socially distancing. The extent of community spread is a function of our actions, and we can slow it down. Our citizens have already been brave and resilient through the enormous hardship that we've faced over the last year, saving countless lives. Now we need to get through to the light at the end of the tunnel."
Today's data is summarized briefly below:
- Test Results Reported - 224,569
- Total Positive - 13,886
- Percent Positive - 6.18%
- Patient Hospitalization - 9,055 (-218)
- Patients Newly Admitted - 1,000
- Hospital Counties - 57
- Number ICU - 1,560 (-61)
- Number ICU with Intubation - 1,011 (-33)
- Total Discharges - 118,889 (+1,007)
- Deaths - 174
- Total Deaths - 33,594
Court Orders Attorney General James’ Lawsuit Against NRA to Continue in Manhattan Court
New York Attorney General Letitia James today applauded a court order in her lawsuit against the National Rifle Association (NRA), when Judge Joel Cohen of the New York County State Supreme Court ruled in her favor and ordered that the case be permitted to continue in a Manhattan court, and not be moved to an Albany court or dismissed outright. After the Office of the Attorney General filed the proceeding against the largest and most influential pro-gun organization in the nation last year, the NRA filed motions to dismiss the complaint in its entirety, stay the action, and change the venue to an Albany court. Today, Judge Cohen denied all motions made by the NRA.
“Today’s order reaffirms what we’ve known all along: the NRA does not get to dictate if and where they will answer for their actions,” said Attorney General James. “We thank the court for allowing our case to move forward and look forward to holding the NRA accountable.”
Additionally, Judge Cohen denied all other procedural actions the NRA attempted to utilize to stay or dismiss Attorney General James’ lawsuit.
As Part of New York's Ongoing Response to the COVID-19 Pandemic, Governor Cuomo Announces Open Enrollment for Uninsured New Yorkers Extended Through March 31
New Yorkers Can Apply Now for Coverage Through NY State of Health or Directly Through Insurers
Amid Global Pandemic, High-Quality Health Insurance More Important Than Ever
As part of New York's ongoing response to the COVID-19 pandemic, Governor Andrew M. Cuomo today announced that the Open Enrollment Period for uninsured New Yorkers will be extended through March 31, 2021. New Yorkers can apply for coverage through NY State of Health, New York's Official Health Plan Marketplace, or directly through insurers.
"Ensuring all New Yorkers have access to health insurance is essential, not only as we continue to fight the war against COVID, but to foster healthier, more resilient and more equitable communities as we rebuild post-pandemic," Governor Cuomo said. "By extending this deadline until March, New Yorkers who need health coverage will have additional time to enroll and find the plan that works best for themselves and their families."
Extending the Open Enrollment Period to March 31, 2021 helps to align New York with the federal Public Health Emergency which was recently extended to April 20, 2021. This extension allows individuals eligible for Qualified Health Plan insurance additional time to enroll for coverage in 2021 and means that enrollment remains open for all NY State of Health programs, which is especially important during the ongoing public health emergency. Coverage start dates will vary:
- Enroll by February 15: Coverage starts March 1
- Enroll March 15: Coverage starts April 1
- Enroll by March 31: Coverage starts May 1
Individuals who are eligible for other NY State of Health programs - Medicaid, Essential Plan and Child Health Plus - can enroll year-round. As always, New Yorkers can apply for coverage through NY State of Health online at nystateofhealth.ny.gov, by phone at 1-855-355-5777, and by connecting with a free enrollment assister.
New York State of Health Executive Director, Donna Frescatore said, "The COVID-19 pandemic is far from over and thanks to Governor Cuomo's leadership, this extension of the Open Enrollment Period will give New Yorkers the extra time they need to enroll in coverage. As vaccine distribution continues throughout the state, having access to quality, affordable health coverage is crucial to staying healthy in 2021."
Superintendent of Financial Services Linda A. Lacewell said, "Under Governor Cuomo's leadership, New York is extending the health enrollment period, providing uninsured New Yorkers another opportunity to sign up for high-quality and affordable health insurance. This opportunity to access New York's health insurance marketplace is critically important during an ongoing public health emergency and during vaccination efforts. The state encourages uninsured New Yorkers to visit NY State of Health and sign up today."
Additional information on NY State of Health insurance options during the COVID-19 emergency can be found here.
NY Department of Financial Services information and resources during the COVID-19 emergency can be found here.
Governor Cuomo Announces Investigations into Prescription Drug Price Spikes Connected to the COVID-19 Pandemic
Department of Financial Services is Committed to Holding Companies Accountable for Unjustified, Exorbitant Increases in Prescription Drug Prices
The New Office of Pharmacy Benefits' First Round of Investigations Will Focus on Drug Price Spikes Connected to the COVID-19 Pandemic
Governor Andrew Cuomo today announced the Department of Financial Services' newly formed Office of Pharmacy Benefits today announced it has initiated investigations into significant price spikes for six drugs that were connected to the COVID-19 pandemic by sending a demand pursuant to New York Insurance Law Section 111 requiring a statement from the manufacturer explaining the facts and circumstances surrounding the spikes.
"Throughout the COVID-19 pandemic, we've seen too many instances of pharmaceutical companies taking advantage of those in need and significantly raising the prices on life-saving prescription drugs," Governor Cuomo said. "This shameful behavior cannot stand and needs to be rooted out at all costs. Companies should be on notice - if you attempt to capitalize on the health needs of New Yorkers, we will investigate you and hold you fully accountable."
"Putting profits over people's lives is unconscionable," said Superintendent Lacewell. "When drug manufacturers exploit a global pandemic for their own benefit, it cannot go unanswered. DFS will use every power at its disposal to shine a light on the world of drug prices. Today, we have taken our first steps in addressing the problem of excessive drug prices that has hit consumers' pocketbooks directly and through insurance premiums."
The impact on consumers is not just about dollars and cents: as these drugs are sometimes the difference between life and death, an extreme price spike can be a real barrier to lifesaving treatment, particularly during this global health emergency.
"It requires extreme greed and cynicism to see a global pandemic costing millions of lives as an opportunity for profit," said Commissioner of the New York State Department of Health Dr. Howard Zucker. "I applaud DFS and Superintendent Lacewell for taking these steps to address the problem of excessive drug prices during this international public health crisis."
The Department of Financial Services' (DFS) Office of Pharmacy Benefits (OPB) has examined changes in drug prices during the state of emergency to identify spikes in price worthy of further investigation. Today, the OPB commenced investigations under Section 111 of the Insurance Law into anomalously large spikes in the prices of six drugs that occurred during the COVID-19 pandemic, under circumstances determined to warrant further investigation. These drugs are:
- Ascor (ascorbic acid) 25,000 mg/50 mL bulk vial - Ascor is a formulation of Vitamin C for IV injection manufactured by McGuff Pharmaceuticals. McGuff raised the price of this drug by 110% about a week after clinical trials were announced for use of the drug to treat COVID-19 patients suffering acute symptoms.
- Budesonide 0.5 mg/2 mL inhalation (60 mL) - One of two corticosteroids to be investigated, a generic formulation produced by Cipla USA Inc. increased in price by over 1350% in the midst of the first wave of COVID-19 cases in the U.S. and on the heels of an announcement of international clinical trials for its use to treat COVID-19 patients.
- Dexonto (dexamethasone) 5 mL vial of a 0.4% solution - Dexonto is the other corticosteroid under investigation and is a branded generic drug manufactured by Nubratori, Inc. This manufacturer announced a price increase of over 65% at the beginning of the pandemic, just 11 days before clinical trials for treating COVID-19 patients with the drug were announced in China.
- Mytesi (crofelemer) 125 mg delayed release tablet, 60s - Manufactured by Jaguar Health, Mytesi is a drug used to treat gastrointestinal side effects of antiretroviral therapies used by HIV patients. Jaguar increased the price of the drug by 230% just days after it applied for an emergency use authorization for use to treat COVID-19 patients.
- Duramorph (morphine sulfate) 1 mg/1 ml (10 mL 10s) - While most morphine formulations experienced modest increases in price during the early months of the pandemic, this branded product manufactured by Hikma Pharmaceuticals experienced an anomalous increase of nearly 60%.
- Chloroquine phosphate 250 mg tablets - The chloroquine family of drugs has made many headlines during the pandemic, but Rising Pharmaceuticals appears to have attempted to capitalize on unsubstantiated reports of its effectiveness in treating COVID-19 patients early in the pandemic when it raised its price by 97.8%.
Each of these manufacturers will now be required to provide information about and a justification for each spike the OPB has identified. Pursuant to the demands sent today, the manufacturers will provide DFS with written responses to questions such as the dates pricing decisions were made, the officers or employees involved in the decisions, any analyses conducted prior to the price spike, and the reasons for the price spike given internally. The OPB is authorized to collect additional information, including by examining witnesses or issuing subpoenas.
The commencement of an investigation does not mean that a price spike was unlawful or even unjustified; rather, it means that DFS has determined the circumstances warrant a closer look. If the investigation finds that illegal conduct occurred or that a price spike was not justified, these conclusions will be memorialized in a report of the Drug Accountability Board, the panel of experts appointed by the Superintendent just last month, and referrals to other relevant legal authorities may be made.
If it is determined that a valid reason for the spike exists, DFS will announce that development as well, and close the investigation. Through this work DFS will provide transparency in an area which has traditionally been opaque.
For more information or to report a drug price spike, please visit the DFS Website. Any questions may be addressed to Eamon Rock, Director of the Office of Pharmacy Benefits, at DrugPriceSpikes@dfs.ny.gov.
Grant Cottage State Historic Site Gains Federal National Landmark Status
Saratoga County Site Where President Ulysses S. Grant Penned Memoirs
The Grant Cottage State Historic Site, a 19th century residence where U.S. President Ulysses S. Grant completed his memoirs shortly before his death, has been named a National Historic Landmark by the National Park Service.
Acquired by State Parks in 1957 as a State Historic Site, the 43-acre Saratoga County property includes a two-story residence where Grant, diagnosed with terminal throat cancer, went to complete his memoirs for six weeks immediately prior to his death in July 1885.
“This well-deserved federal designation brings more public awareness to the important role this place played in the life of one of our most famous national leaders,” said State Parks Commissioner Erik Kulleseid. “State Parks is grateful for the years of work invested in obtaining this designation by our Regional Commissioners and the Friends of Ulysses S. Grant Cottage that operates and cares for this site.”
Heather Mabee, chair of the Saratoga/Capital Regional Park Commission, said, “This honor is the result of steadfast and tireless advocacy, spearheaded by our commission member Barbara Glaser who invested so much of herself in this. This honor brings even more prestige to an already prestigious site.”
While seriously ill at the cottage, Grant completed writing his two-volume memoirs outlining his service as the general in charge of the U.S. Army during the Civil War, and his subsequent two terms as U.S. President.
Published with support from Grant’s friend and prominent author Mark Twain, the work assured the financial security of his widow, Julia, and their children, and is recognized as an important 19th century work of literature, as well as a New York State Literary Landmark, by United for Libraries and the Empire State Center for the Book. The memoirs have never been out of print since their original publication.
Located immediately below the summit of Mount McGregor in Saratoga County, the cottage is kept as it was during the Grant family's stay. Open to the public seasonally by the Friends of the Ulysses S. Grant Cottage, visitors can tour its first-floor original furnishings, decorations, and personal items belonging to Grant.
Tours are scheduled to resume for the season in May 2021. Artifacts on display include the mantel clock stopped by Grant’s son Fred at the moment of his father’s death, and original floral arrangements from Grant's funeral in August 1885.
Grant Cottage first opened as a historic site in 1890 when it was supported by funds raised by veterans of the Grand Army of the Republic.
The grounds surrounding the Cottage served as a tuberculosis sanitarium beginning in 1914, which in 1945 was converted into a veteran rest camp, until 1960 when it was repurposed and annexed as the Rome State School for disabled children until 1976. The Friends of Ulysses S. Grant Cottage was formed in the fall of 1989 to provide programming and tours, and partner with New York State Parks on site stewardship.
The New York State Office of Parks, Recreation and Historic Preservation oversees more than 250 individual parks, historic sites, recreational trails and boat launches, which were visited by a record 77 million people in 2019. A recent university study found that spending by State Parks and its visitors supports $5 billion in output and sales, 54,000 private-sector jobs and more than $2.8 billion in additional state GDP. For more information on any of these recreation areas, call 518-474-0456 or visit parks.ny.gov connect on Facebook or follow us on Twitter.
STATE OF THE CITY PREVIEW: MAYOR DE BLASIO AND TASKFORCE ON RACIAL EQUITY AND INCLUSION JOIN NYC ACQUISITION FUND TO ANNOUNCE NEW FOCUS ON M/WBES AND NONPROFITS
$210 million affordable housing loan fund will exclusively finance projects led by M/WBEs or nonprofit developers
Today, Mayor Bill de Blasio and the Taskforce on Racial Inclusion & Equity join the New York City Department of Housing Preservation and Development (HPD), Housing Development Corporation (HDC), Enterprise Community Partners, Inc. (Enterprise), the Local Initiatives Support Corporation (LISC), along with a coalition of public, private and philanthropic partners, to announce that the New York City Acquisition Fund (NYCAF) will now exclusively serve Minority and Women-Owned Businesses (M/WBEs) and nonprofit developers in its mission to support affordable and supportive housing development.
The $210 million public-private affordable housing loan fund will solely finance projects led by a M/WBE or nonprofit developer with a minimum 51 percent ownership stake in the project. The heightened focus on M/WBEs and nonprofits strengthens the Fund's alignment with the City's commitment to a fair and equitable post-COVID-19 recovery and preserves the Fund's limited resources for the borrowers most in need of favorable financing for their affordable housing projects.
“Affordable housing shouldn’t just offer a place for New Yorkers in underserved communities to live – its construction should offer opportunity to those New Yorkers, too,” said Mayor Bill de Blasio. “I’m proud to stand with partners across government to support developers who give back the most to the New Yorkers they serve.”
The Fund's announcement is in line with the City's new equitable ownership requirement to strengthen M/WBEs and nonprofits' role on affordable housing projects developed on City-owned sites. The rule requires that an M/WBE or nonprofit partner hold a minimum 25 percent ownership stake in any affordable housing project awarded on public land.
"Making sure that our investments not only provide affordable housing, but also expand opportunities for M/WBE and nonprofit developers is critical to New York City's fair and equitable recovery agenda," said Deputy Mayor for Housing and Economic Development Vicki Been. “Leveling the playing field for those developers helps to diversify and strengthen the industry, puts New Yorkers to work in the neighborhoods they call home, and taps into the deep connections and contributions those developers have made in different neighborhoods.”
“City dollars can and should do more than just get work done,” said J. Phillip Thompson, Deputy Mayor for Strategic Policy Initiatives and co-chair of the Racial Equity and Inclusion Taskforce. “By leveraging city spending power to support our M/WBEs and nonprofits, we can ensure a fair recovery for all New Yorkers.”
“The Fund's shift to exclusively serve M/WBEs and nonprofit developers is a game-changer for firms seeking the crucial acquisition capital they need to get ahead,” said Sideya Sherman, Executive Director of the Taskforce for Racial Inclusion & Equity and EVP of Community Engagement & Partnerships at NYCHA. “We applaud Commissioner Carroll and our partners at HDC, Enterprise, and LISC for this significant investment, which will support a fair and equitable recovery for our city.”
“We are thrilled that the Fund will be building on the City's efforts to increase investments in M/WBE and nonprofit developers that share our deep commitment to the communities we serve,” said HPD Commissioner Louise Carroll. “The NYC Acquisition Fund is a tremendous partner, and their work will be invaluable to the recovery and ensuring that we reach the communities most in need. I applaud Enterprise and LISC for their remarkable work. This is a testament to what can be accomplished when philanthropy, private partners, nonprofits, and government all come together for a common goal.”
“The New York City Acquisition Fund has been at the forefront of helping to meet the City’s most pressing affordable housing challenges for years,” said HDC President Eric Enderlin. “This change announced today means we can do more to meet our commitment to supporting M/WBEs and nonprofits doing this critical work.”
“We support this effort to increase access to opportunities and capital for M/WBEs particularly during this difficult time for the local NYC economy and M/WBEs,” said Maggie D. Austin, Senior Advisor and Director of the Mayor’s Office of M/WBEs. “We applaud Commissioner Carroll and the Fund partners for this timely and much-needed resource.”
“Advancing racial equity is a key strategic priority for Enterprise, and as we work to support nonprofits and BIPOC-led developers, we recognize the importance of investing in these mission-driven partners,” said Victoria Rowe-Barreca, Director of Capital Solutions and Partnerships, Enterprise Community Partners. “We are proud to partner with the City and LISC to ensure that the New York City Acquisition Fund is bolstering nonprofit and M/WBE developers to be part of the City’s ambitious affordable housing plan.”
“The NYC Acquisition Fund’s decision to channel funding toward M/WBE and nonprofit developers is a major step toward ensuring equitable access to capital and creating sustainable community wealth for Black and Brown New Yorkers,” said Valerie White, executive director of LISC NYC. “We look forward to working with our partners and communities across the five boroughs in 2021 to close the racial wealth gap and build back better.”
“The Supportive Housing Network of New York wholeheartedly supports the New York Acquisition Fund’s decision to lend exclusively to nonprofits and M/WBEs to develop supportive and affordable housing,” said Laura Mascuch, Executive Director, Supporting Housing Network of New York. “NYCAF is a vital resource for our member organizations in creating thousands of apartments for homeless New Yorkers and the Network fully endorses the primacy of nonprofits developing and owning supportive housing. We also applaud Commissioner Carroll’s leadership in having NYCAF focus on M/WBE ownership as a means of beginning to address systemic racial and gender inequity.”
Established in 2006, the Fund offers flexible bridge loans to affordable housing developers to acquire vacant sites and occupied buildings and finance predevelopment work. The Fund is made possible through an innovative partnership between Enterprise and LISC, the City of New York, major commercial lending institutions, and leading foundations. Since launching, the Fund's lending volume has exceeded $530 million, generating 14,200 newly constructed or preserved affordable homes throughout the five boroughs.