Policy & Research

Republican Cuts to the Essential Plan Could Cost New York Over $10 Billion a Year

While most coverage of the Republican reconciliation proposals has focused on Medicaid, the largest financial impact on New York’s healthcare system comes from another program – the Essential Plan. The current House Republican budget proposal threatens to cut the program by $7.6 billion or 57 percent, while increasing state Medicaid costs by $2.7 billion.

2025-05-22T00:45:04-04:00May 22nd, 2025|Healthcare, Policy & Research|

The House Medicaid Proposal Would be a Disaster for New York

In February, Congressional Republicans – including all seven New York representatives – voted for a budget reconciliation package requiring $880 billion in cuts to Medicaid over the next ten years. The reconciliation package set an overall target for spending reductions, but didn’t announce what specifically would be cut from the program. This week, House leadership finally revealed which program areas will be targeted.

2025-05-15T12:47:14-04:00May 15th, 2025|Blog, Healthcare|

Budget Breakdown: Fiscal Year 2026 Enacted Budget

The Enacted Budget, while it contains few significant new policy initiatives, allows state spending to recover some of the lost ground from a decade of austerity policies in the 2010s. The most important policy measure in the budget is a long overdue increase in unemployment insurance benefits that will better prepare the State economy for a possible recession (discussed in detail below). The bad news is that the Enacted Budget contains serious fiscal errors, including permanent tax cuts and one-time payments that will cost $3 billion in fiscal year 2026 alone.

Has New York Already Entered Stagflation?

Stagflation is the deadly combination of low growth and high inflation. With the implementation of sweeping and high tariffs by the federal government, most economists and forecasters currently predict something resembling “stagflation” on the Unites States’ economic horizon. But New York may have already entered a period of stagflation: New York’s economy has recovered the jobs lost during the Covid-19 pandemic, but lags the economic growth seen in the rest of the country.

2025-05-05T22:52:51-04:00May 6th, 2025|Economic Trends & Policy, Featured on Home|

State Ends Year with $6 Billion over Projections

New York State’s fiscal year 2025 ended on March 31 with good news for the State’s coffers: Total receipts for the year came in $6.0 billion higher than forecast as of January 2025, and a full $12.3 billion higher than forecast at the beginning of the fiscal year in May 2024. As we enter the final stage of budget negotiations, this additional revenue will allow the State to prepare for federal funding cuts by investing in the MTA, childcare, NYCHA, and other critical services and infrastructure.

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