City’s new $112B budget undoes cuts as Adams looks to re-election

Mayor Eric Adams announced a deal on a $112 billion budget with the City Council on Friday, reversing a small but notable fraction of his unpopular cuts as he looks toward a difficult re-election bid next year.The spending plan for Fiscal Year 2025 also makes some new investments at the urging of lawmakers, including $2 billion for housing. City Hall’s willingness to add spending marks a major shift from last year, when Adams’ dire warnings about future-year deficits and the costs of the migrant crisis led him to impose some unusual mid-year cuts across city agencies.“We’re delivering a budget that invests in the future of our city and the working people who live here,” the mayor said at City Hall Friday afternoon, moments after a symbolic handshake with Council Speaker Adrienne Adams. The council pushed successfully to undo $350 million of the $7 billion in cuts the mayor had ordered — including controversial reductions like the $58 million from public libraries that would have ended weekend service, and $53 million from cultural groups like museums and botanic gardens.Early childhood programs like pre-K and 3-K will get $100 million, short of what some advocates had asked for, as the city dips into its own funds to shore up expiring federal money that had helped pay for those programs. Council Speaker Adrienne Adams warned that the city would need help from the state government to sustain that funding in the future.All the restorations total just $350 million, leaving... Continue reading at 'Crains New York'

[ Crains New York | 2024-06-28 21:14:47 UTC ]

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