As 'fiscal cliff' looms, city leaders look at possible impact
amny
As the country inches toward the so-called "fiscal cliff" that would bring tax increases and spending cuts on Jan. 1, city leaders are looking at how New York could be affected.
The City Council Monday released a report detailing what may happen if leaders in Washington fail to reach an agreement. Here's what it found:
HIGHER TAXES
Single Mother with Two Children
Income: $24,000
Tax Increase: $1,670
Loses child-care tax credit
Middle Class Couple with Two Children
Income: $81,000
Tax Increase: $2,200
$300 MILLION IN SPENDING CUTS
More crowded schools: $48 million less in Title I for low-income schools
A less safe city: $25 million less for NYPD anti-terrorism protection
Less affordable housing: 8,000 fewer Section 8 vouchers
4,000 fewer childcare slots for working families: $40 million cut to Child Care Block Grant & $15 million cut to Head Start
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
