Number of the Day: -3,276

March 12, 2013 | Number of The Day

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).