Today, federal legislation that extends "FMAP" funding was delayed. Federal Medical Assistance Percentages (FMAP) are used to determine the amount of "Federal matching funds" each State will receive for assistance in making payments for State social service, medical, and medical insurance expenditures. Needless to say, FMAP funding – which is worth billions of dollars in Massachusetts – is vital to our State's education, human services, and public safety infrastructure.
So, why should you care about whether Congress extends this funding to our Commonwealth? Here are some reasons:
With the start of a new fiscal year on July 1, states like Massachusetts are working hard to balance next year's budget. As we continue to climb out of the recession, receiving FMAP funds and mitigating additional budget cuts will help strengthen our economic position.
This is an important issue that requires all of our attention.