Governor Philip D. Murphy of New Jersey has proposed a $58 billion budget for his second term, maintaining spending levels amid looming federal funding reductions, particularly in Medicaid. The state's challenges are underscored by the potential loss of up to $5.2 billion in Medicaid matching funds, which provide health coverage for approximately 700,000 residents. The uncertainties surrounding federal fiscal policy have prompted state officials, including Treasurer Elizabeth Maher Muoio, to prepare for possible significant cuts that could reshape the state's health care landscape. Nationally, the National Conference of State Legislatures has warned about the consequences of reduced Medicaid funding for the 79 million Americans who depend on it.
Gov. Philip D. Murphy's proposed budget of $58 billion aims to maintain spending levels in the face of potential federal Medicaid funding cuts.
New Jersey officials warned that the proposed federal cuts could lead to a loss of $5.2 billion in Medicaid funds, jeopardizing health coverage for 700,000 residents.
Treasurer Elizabeth Maher Muoio highlighted the challenges of the budget, acknowledging that deep cuts in health care spending could change the state's financial landscape dramatically.
The National Conference of State Legislatures reiterated concerns that significant reductions in Medicaid funding could have dire consequences for the 79 million Americans reliant on it.
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