"Speaker Julie Menin stated, 'Our plan outlines a viable path forward, one that closes the shortfall without raising property taxes, without cutting critical services, and without drawing down the rainy day fund.'"
"Mayor Mamdani rebutted the Council's plan, asserting that it would result in slashing billions from agency budgets, which would force the City to cut services."
"The administration indicated that it inherited a much larger structural problem, with a gap growing to roughly $12 billion across fiscal years 2026 and 2027 due to underbudgeted needs."
The City Council has found approximately $6 billion to address a significant budget deficit, countering Mayor Mamdani's preliminary budget without increasing property taxes or reducing services. Speaker Julie Menin emphasized that the Council's plan includes $1.1 billion in previously funded priorities not included in the mayor's budget. Mayor Mamdani criticized the Council's proposal, claiming it would lead to cuts in agency budgets and services. The budget negotiations aim to finalize a spending plan for fiscal years 2026 and 2027 by the end of June.
Read at www.amny.com
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