Gov. Kathy Hochul and Mayor Eric Adams Approach Budget Agendas with Uncertainty
Gov. Kathy Hochul and Mayor Eric Adams are approaching their budget agendas as if the 2024 election didn’t happen. However, the victory of Donald Trump in the presidential race and the looming Republican control of Congress seem likely to give them migraines, with enormous risks for New Yorkers who depend on government resources to educate their kids, provide health care, and inspect building sites.
Medicaid and More
The state dependence on federal money is far greater, at about $85 billion, a little more than a third of total spending of $239 billion. Most of the money goes to Medicaid and education. Those two areas are in the Republicans’ crosshairs for reductions.
A Focus on Now May Leave Big Problems Later
A focus on now could leave the state and city with big problems later, since Trump and Republicans in Congress have promised to slash federal spending. Possible targets include funding passed down to the state and city for government programs and services.
The City and State Budgets at Risk
The city’s current budget includes $8 billion in federal aid, which is used for crucial programs that include education, cash assistance, health care, and child care. The city has also won more than $2 billion in commitments from the infrastructure program launched by President Joe Biden, money Republicans might seek to recapture.
The State and City’s Dependence on Federal Money
The state’s dependence on federal money is far greater, at about $85 billion, a little more than a third of total spending of $239 billion. Most of the money goes to Medicaid and education. Those two areas are in the Republicans’ crosshairs for reductions.
What’s at Risk
- Funding for education and Medicaid
- Federal aid for government programs and services
- Infrastructure projects
- Housing code inspections
- Apartment repairs
- Staff at the Department of City Planning
- Community development block grants from the U.S. Department of Housing and Urban Development
- Federal aid for the City University of New York (CUNY)
- Federal aid for the Metropolitan Transportation Authority (MTA) and the New York City Housing Authority (NYCHA)
Conclusion
The victory of Donald Trump in the presidential race and the looming Republican control of Congress are likely to give Gov. Kathy Hochul and Mayor Eric Adams migraines, with enormous risks for New Yorkers who depend on government resources. The state and city’s dependence on federal money is far greater, with possible targets including funding for government programs and services.
FAQs
Q: What is the city’s current budget?
A: The city’s current budget is $115 billion.
Q: What is the state’s dependence on federal money?
A: The state’s dependence on federal money is about $85 billion, a little more than a third of total spending of $239 billion.
Q: What are the possible targets for reductions in federal spending?
A: Possible targets include funding for education and Medicaid, federal aid for government programs and services, infrastructure projects, and more.
Q: What is the city’s current budget?
A: The city’s current budget is $115 billion.
Q: What is the state’s budget?
A: The state’s budget is $239 billion.
