New York City in brief

Mayor Zohran Mamdani has declared New York City will expand free child care to 2,000 two-year-olds this September, aiming to reach 12,000 by 2027—a prospect making some parents ponder a sibling-sized addition to their households. While families pay some $20,000 yearly for care, doubts linger over long-term funding and whether the city will foot the bill all year, not just when the school bell rings.

Gasoline prices in the United States have breached $4 per gallon for the first time since 2022, says AAA, as fresh Middle East tensions and snarled supply chains push the national average to $4.02—over a dollar above pre-war times. Parisian drivers fare even worse at over $10 per gallon, while American postal rates inch up. With 45% of Americans fretting over fuel bills, we’re all feeling the burn but not quite ready to carpool.

Republican leaders in the US House are mulling plans to slash up to $200 billion from health programs like Medicaid to fund military efforts in Iran and bolster immigration authorities, according to reports from outlets including Axios. Tougher work requirements and stricter eligibility checks could push up to 10 million Americans off Medicaid and imperil hundreds of hospitals, but combating “fraud, waste and abuse” seems to have caught—if not cured—their legislative imagination.

The latest analysis from the Federal Reserve Bank of Boston suggests that American households with credit card balances are feeling the squeeze, as high interest rates chip away at their monthly budgets and trim overall spending. As rising inflation and mounting debt nudge wallets shut, many now find themselves paying more for yesterday’s purchases than they dare spend on tomorrow’s—an economic virtuous circle, if one happens to be a credit-card company.

With the national average for petrol cresting $4 a gallon—the highest mark since 2022—thanks to fresh Middle East unrest, American wallets are feeling lighter, particularly in pricey outposts like California and Hawaii. Analysts say households, especially Hispanic ones, could see monthly costs balloon by $150 or more, as fuel hikes ripple into food and basics. For now, summer road trips may be less joyride, more sticker shock.