President Obama and Republicans in Congress have yet to agree on a solution to the impending fiscal cliff, a package of tax hikes and spending cuts set to go into effect in the New Year. Thus far neither side has shown a strong willingness to concede to what the other wants.
The timing couldn’t be worse for the victims of Hurricane Sandy, whose financial future could lay in the success or failure of these negotiations.
The fiscal cliff could dramatically effect many agencies of the federal government including FEMA, which is set to lose 536 core personnel. In addition, $580 million of FEMA’s $7 billion disaster relief fund is set to be sequestered.
Rana Foroohar is assistant managing editor of TIME Magazine.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!