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 article you just read is free because dedicated readers and listeners like you chose to support our nonprofit newsroom. Our team works tirelessly to ensure you hear the latest in international, human-centered reporting every weekday. But our work would not be possible without you. We need your help.
Make a gift today to help us reach our $25,000 goal and keep The World going strong. Every gift will get us one step closer.