It's no secret that sequestration is going to hurt, but how will it translate into dollars and cents and flesh and blood here in New Jersey? Consider: an estimated 3,276 low- and very-low-income families will lose their rent subsidies when the cuts go into place, according to the Center on Budget and Policies, a liberal think tank based in Washington, D.C. (Currently, 64,014 New Jersey families participate in the federal rent-assistance program.)
The center -- which assessed how sequestration is likely to affect individual states -- reports that New Jersey's homeless assistance program will shed about $2,276,080 (currently at $46,478,310). Community and Block Development Grants, defined by HUD as a "tool for helping local governments tackle serious challenges facing their communities" will be cut by an estimated $3,874,013, down from $77,708,633.
According to the center, the state also is scheduled to lose $1,278,500 in federal housing grants (currently funded at $25,676,951).