Facing the prospect of $717 billion in federal budget cuts, a broad coalition of New York insurers, business leaders, advocates, and labor organizations is sounding the alarm over the sweeping impact these reductions could have on the state’s economy and essential services.
With federal funding underpinning everything from Medicaid and SNAP to public housing and infrastructure, stakeholders warn that the proposed cuts threaten the stability of programs relied on by millions of New Yorkers from Harlem to the Hudson, particularly the most vulnerable populations.
As policymakers scramble to assess the risks and devise contingency plans, the debate intensifies over how to safeguard critical services and maintain New York’s fiscal health in the face of unprecedented federal retrenchment…