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NYS facing $14.5B budget shortfall this year, per new report

New York State is facing down a massive budget shortfall, according to the state Division of the Budget.

They released their first quarterly financial plan update, which outlined a deficit of $14.5 billion this year.


The estimate is $1 billion more than was projected in April.

The state was already facing a $6 billion shortfall before the pandemic, mostly because of Medicaid.

State officials are calling for more federal funding to help ease the budget burden. States across the U.S. are dealing with massive shortfalls.

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