If the president and Congress don’t reach an agreement on how to reduce the national deficit, more than $500 billion in tax increases and across-the-board spending cuts will take effect Jan. 1. That includes cuts of more than $2 billion to federal K-12 education spending.
It’s called the fiscal cliff. And it could hit Ohio schools hard, particularly urban schools. Some urban schools rely on federal funding more than schools in other areas.
(Stay tuned to StateImpact Ohio next week for more specifics about what could happen to Ohio schools if we reach the fiscal cliff.)