The article discusses Republicans' plans in Congress to introduce a bill that would cut federal spending, impacting aid to New York significantly. This could lead to severe budget deficits for both the state and the city, which may have to find billions in additional revenue. With New York already having the highest taxes in the nation, this could threaten essential services, particularly health care for millions. Officials are urged to prepare for potential fiscal crises as they finalize budgets soon, amidst warnings from state and city comptrollers about the implications of these cuts.
The recently announced spending cut targets for the federal budget could have profound effects on New York City's ability to provide key social services and more.
Health care cuts are the biggest risk for the state, whose Medicaid and program exceeds $110 billion, with almost 60% of that coming from the federal government.
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