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Gov. Phil Murphy. (Photo: Kevin Sanders for the New Jersey Globe)

Murphy: $2 trillion bailout an imperfect ‘big step in the right direction’

‘We’ll likely need more,’ governor says

By Nikita Biryukov, March 25 2020 3:54 pm

Gov. Phil Murphy said the $2 trillion bailout deal Congress will likely pass Wednesday, while imperfect, was “a big step in the right direction.”

“Is it everything we want? It is not, but I’m in the category of ‘let’s not let the perfect be the enemy of the good,’” Murphy said.

In addition to corporate bailout, the deal provides for direct payments to most Americans and additional money for the unemployment insurance fund, along with financial support for hospitals, small business and mass transit systems.

Murphy, along with New York Gov. Andrew Cuomo, have previously called for greater federal intervention.

Cuomo criticized the bailout on Wednesday, claiming it was a “drop in the bucket” that would not provide nearly enough money to bridge budget deficits that have ballooned in response to the COVID-19 crisis.

New Jersey’s governor was less critical.

“It isn’t everything. Let there be no doubt about it. We’ll likely need more, but I think it’s a big step in the right direction,” he said. “We’ll take it, and it’s going to make a difference.”

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