The City Council said it has found an additional $6 billion in newly identified city dollars to undo many of Mayor Eric Adams’ spending cuts and make new investments in affordable housing construction and education.Lawmakers on Monday released their official response to the mayor’s $109 billion budget proposal for the coming 2025 fiscal year, saying they will push to undo some of the $7 billion in spending cuts that the mayor has imposed since last year. The money comes from the $3 billion in greater tax revenues that the council projects through next year compared to the mayor’s office, as well as $2 billion in likely underspending on vacant positions and $550 million of in-year reserves.“We have consistently said that the budget cuts made by the administration were far too broad and have negative impacts on our constituents and the stability of our city,” said Council Speaker Adrienne Adams at a Monday press conference. Finance chair Justin Brannan added that lawmakers would fight to undo “all of the previously proposed cuts — and then some.”About $1 billion would be left over as surplus under the council plan. The document will serve as lawmakers’ guiding light as they begin budget talks with the Adams administration ahead of a June 30 deadline to pass a spending plan.The council’s priorities will include undoing the $58 million in cuts to the city’s public library system, which leaders say will end weekend service and delay renovations unless the money is restored in... Continue reading at 'Crains New York'
[ Crains New York | 2024-04-01 17:27:55 UTC ]
The Avengers may have racked up more than $200 million in box office receipts during its weekend opening, but the comic books on which the movie is based may tell us more about the future of storytelling. Continue reading at Knowledge@Wharton
[ Knowledge@Wharton | 2012-05-08 00:00:00 UTC ]
More news stories like this
E-book price fixing will cost consumers more than US$200 million this year, and U.S. antitrust authorities should take action against Apple and a group of... Continue reading at PC World
[ PC World | 2012-04-10 00:00:00 UTC ]
More news stories like this
Last April Fools' Day, publishers from Time Inc. to the Washington Post Company sent fast-growing startup Zite an aggressive cease-and-desist letter. The publishers weren't joking, accusing Zite's app, a personalized news reader for the iPad and iPhone, of copyright infringement and calling it... Continue reading at Fast Company
[ Fast Company | 2012-04-04 00:00:00 UTC ]
More news stories like this
Glam Media has just acquired Ning, the build-your-own-social-network startup co-founded by Netscape creator Marc Andreessen. Glam is best known for building Web properties and an ad network targeting women, and it says it now reaches more than 200 million monthly users. Last month, it announced... Continue reading at AdWeek
[ AdWeek | 2011-09-21 00:00:00 UTC ]
More news stories like this
Playboy Enterprises and Martha Stewart Living Omnimedia suffered losses in 2010, due to the still struggling economy and a changing media landscape. Playboy says print/digital revenue fell 21.5 percent to $82.8 million in 2010. The domestic magazines generated $37.3 million, (down 32 percent... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-17 00:00:00 UTC ]
More news stories like this