Medicaid funding boost helps New York's budget woes, shrinking deficit by $2B

New York’s budget gap appears to have shrunk modestly after a boost in Medicaid funding was passed down from Washington, D.C.

The Biden administration shaved $2 billion or more off the state’s budget gap in a move that doesn’t need Congressional approval.

The Empire Center reports that days after President Joe Biden took office, the U.S. Department of Health and Human Services said that the pandemic-related federal public health emergency “will likely remain in place for the entirety of 2021.”

That extends the increase in funding that was part of the Families First Coronavirus Response Act.

Staff Report

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Medicaid funding boost helps New York’s budget woes, shrinking deficit by $2B