Gov. Cuomo faces a growing budget mess as officials projected a shocking $6.1 billion hole in the state’s finances next year.
The figure was provided by the state Division of Budget in its mid-year budget report, which was released weeks after its legally mandated due date.
That tallies up to roughly 6 percent of the state’s $102 billion budget for its agencies and operations.
More than half of the gap — $4 billion — is linked to a dramatic rise in the state’s Medicaid costs.
In an effort to patch the hole, Cuomo is considering slashing payments to hospitals and nursing homes in the current budget and perhaps next year.
“Savings may include across the board reductions in rates paid to providers and health plans, reductions in discretionary payments, and other actions that can be executed administratively in the current fiscal year,” the report reads.
read more here: https://nypost.com/2019/11/22/new-york-state-faces-6-1-billion-budget-hole-next-year-officials/
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