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AGENCY TESTIMONY
Potential impact of federal funding cuts on New York City residents
5:27:57
·
98 sec
The IBO expresses concern about proposed federal funding cuts and their potential impact on New York City residents, particularly in areas such as healthcare and food assistance.
- Highlights potential cuts to Medicaid, Supplemental Nutrition Assistance Program, and Temporary Assistance for Needy Families
- Notes that 37% of New York City residents are foreign-born
- Points out that nearly 4 million New Yorkers utilize Medicaid, and over 1.6 million use the Essential Plan for health insurance
- Emphasizes that 1.8 million New Yorkers statewide received SNAP benefits in January 2025, totaling over $423 million
- Warns that federal funding cuts could require the city to convene a special session to address reduced funding and increased hardship for millions of New Yorkers
Louisa Chafee
5:27:57
Now as the US Senate takes up the Big Beautiful Bill Act recently passed by the House, IBO is paying particular attention to proposed cuts in areas such as Medicaid, Supplemental Nutrition Assistance Program, and Temporary Assistance for Needy Families.
5:28:14
Beyond impacted programs, let's talk about New Yorkers.
5:28:17
According to the Census Bureau, thirty seven percent of New York City residents are foreign born.
5:28:23
Based on the state controller's data, close to 4,000,000 New Yorkers in the city utilize Medicaid and over 1.6 have health insurance through the Essential Plan, both programs that are centrally targeted for reduction.
5:28:37
In January 2025, '1 point '8 million New Yorkers statewide received benefits through the Supplemental Nutrition Assistance Program totaling over $423,000,000 for that month alone.
5:28:51
And that's money that kept people fed and supported New York businesses.
5:28:56
These are a few examples of people facing potentially major changes in in their central existence, food and health care, due to federal changes.
5:29:09
Assuming federal legislation dramatically reduces funding to the state, the city will need to convene a special session to account for those reductions in federal dollars and and increased hardship for millions of New Yorkers.
5:29:22
This in turn would require the city to consider how to spend how to continue to provide essential services to vulnerable New Yorkers with that with less funding while maintaining a balanced budget as required by law.