School Boards Association: NY Could Lose $164M In Funding To Fiscal Cliff
BUFFALO, N.Y. (CBSNewYork/AP) — School districts in New York state stand to lose $164 million in federal funding in the 2013-14 school year if Washington doesn’t avoid the so-called “fiscal cliff” by Jan. 2.
An analysis by the New York State School Boards Association released Tuesday showed districts would lose an average of $243,000 earmarked largely for educational programs serving students with disabilities and students living in poverty.
The association’s executive director, Timothy Kremer, said the Big Five school districts have the most to lose. His group’s analysis of federal grant allocations estimates New York City’s potential loss at $95 million. Buffalo could lose $4 million, Rochester, $3.4 million and Syracuse and Yonkers, $1.6 million each.
The analysis is based on an estimated 8.2 percent across-the-board cut in federal programs.
The “fiscal cliff” refers to tax increases and spending cuts that begin in January unless bargainers find alternative savings.
Without action by Congress, tax cuts will expire on all income levels and government funding for numerous programs will be cut at the end of the year.
Share your thoughts in the comments section below…
(TM and Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)