State budget officials warn of a $26.8 billion deficit over four years, citing rising Medicaid costs and federal funding cuts, according to WSYR.
The Division of the Budget says cuts to food aid and health care are looming, but the Fiscal Policy Institute disputes the numbers, arguing New York will have a surplus unless the economy crashes. FPI urges the state to tap its $33 billion in reserves and raise taxes on the wealthy instead of slashing services.
Gov. Hochul’s next budget is due by Jan. 20.
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