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 ]
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 ]
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