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New York hospitals’ tax breaks exceed how much they spend on community benefits

New York’s nonprofit hospital sector receives tax breaks worth more than $2 billion each year, with the expectation that they’ll provide free services and invest in their communities. But dozens are falling short on community benefit spending, a new report shows. More than 40% of the nonprofit hospitals in New York spent less on community

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Hundreds of thousands could lose coverage under Medicaid work requirement proposal

Hundreds of thousands of New Yorkers could lose health coverage if Congressional Republicans move forward with a proposal to add work requirements under the Affordable Care Act’s Medicaid expansion. Between 743,000 and 846,000 residents across the state could lose coverage next year if the plan – which was part of a 50-page list of potential

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City pharmaceutical stocks remain stable as industry-wide tariffs move forward

The city’s pharmaceutical industry remained stable on Tuesday as federal officials signaled that tariffs could be around the corner. The federal government filed a federal notice on Monday announcing that it launched a probe into drug imports, which is expected to lay the groundwork for tariffs on foreign-made drugs later this year. The wide-ranging investigation,

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At a Glance: April 16

CORRECTION: The top lobbying spender in 2024 was 1199SEIU Labor Management Initiatives, Inc. Healthcare Education Project, an advocacy group jointly funded by the state’s largest health care union and the Greater New York Hospital Association, not the union itself. The union, not that entity, backed reforms to the state’s consumer directed personal assistance program but

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J&J’s earnings beat expectations as pharma girds for tariffs

Johnson & Johnson is holding its earnings outlook steady despite President Donald Trump moving decisively toward imposing tariffs on the pharmaceutical industry. The administration’s investigation into drug imports announced Monday, widely seen as a first step toward imposing levies on the industry, could actually be beneficial, J&J Chief Financial Officer Joe Wolk said in an

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Council sues Adams for allowing ICE onto Rikers Island

The City Council sued Mayor Eric Adams on Tuesday in an effort to block his office’s executive order allowing federal immigration authorities to re-establish a presence at the Rikers Island jail complex. The suit calls the action unlawful because it was tainted by a “corrupt bargain:” Adams’ alleged offer to assist President Donald Trump’s mass-deportation

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Bill Cosby’s East 61st Street brownstone hits the market amid foreclosure fight

Bill Cosby is looking to sell a brownstone locked in a foreclosure battle. The disgraced actor and comedian has listed his 5,000-square-foot prewar property on East 61st Street on the Upper East Side for about $7 million, according to an ad that appeared Tuesday. The 4-story, six-bedroom home, which features an eat-in kitchen, a formal

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