Today, I'm releasing the City's preliminary budget. After years of fiscal mismanagement, we're staring at a $5.4 billion budget gap - and two paths. One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between our city and state. The other, a last resort: balance the budget on the backs of working people using the only tools at the City's disposal,
The proposed funding would begin to dig the city Department of Transportation out of Adams's failure to meet the benchmarks established under the Streets Master Plan law. A 2025 report from the Independent Budget Office accused the former mayor of denying DOT the funds that agency officials said they needed to build the 150 new miles of bus lanes and 250 miles of new bike lanes over the five years of the plan.
New York City Mayor Zohran Mamdani wants to spend another $1.2 billion in this year's budget proposal on migrants arriving in the Big Apple. Mamdani's budget plan notes that the number of asylum seekers under the city's care has nearly halved from 68,660 at its peak in January 2024 to 30,813 last month. Follow live updates on Mayor Zohran Mamdani's socialist agenda and the latest in NYC politics
He has highlighted four signature policy proposals: universal child care, free buses, city-owned grocery stores and a rent freeze on rent-stabilized apartments. These ideas have excited New Yorkers who are worried about the soaring cost of living. But if Mr. Mamdani wins, the plans could be difficult to implement. He would have to secure support from critical stakeholders, find funding to pay for the plans and hire the right staff members to make sure they are successful.
