“Adams’ Budget Crisis”<\/a>, blaming his predecessor for gross mismanagement and underestimating known government expenses. <\/p>\n“He budgeted $860 million for cash assistance, when the need was $1.6 billion, $1.1 billion for rental assistance, when the need was $1.8 billion, $1.5 billion for shelters, when the need was $2 billion,” the mayor said. <\/p>\n
Mamdani was joined by his First Deputy Mayor Dean Fuleihan, Chief Budget Officer Sherif Soliman, and Intergovernmental Affairs Chief Jahmila Edwards. <\/p>\n
His administration says they have identified $1 billion in savings by looking at contracts and programs that are not effective, but did not explain how they will achieve this. <\/p>\n
Despite revising the gap down by $5 billion, Mamdani did not back down on his campaign promise of a 2% tax hike on millionaires, corporations and to fund his free bus initiative. <\/p>\n
“This is the kind of money that doesn’t push someone out of a city. It is the kind of money, on a cumulative way and a comprehensive way, can help the city get back on firm financial footing,” the mayor said. <\/p>\n
Those taxes are a tough sell in Albany, even to Mamdani’s allies. State lawmakers pressed the mayor, raising concerns that higher taxes could drive top earners to lower tax states. <\/p>\n
“We are going to need details,” said State Senator John Lui, who pushed Mamdani for answers on how he plans to reduce school class sizes, a state law that the city must comply with. <\/p>\n
The mayor says specific details will be laid out on Feb. 17, when the preliminary balanced budget is du<\/p>\n","protected":false},"excerpt":{"rendered":"Mayor Zohran Mamdani was in Albany on Wednesday, participating in his first ‘Tin Cup Day’ to make the…\n","protected":false},"author":2,"featured_media":130981,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[98,100,99,7739,1445,22925,9,24,63],"class_list":{"0":"post-130980","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brooklyn","8":"tag-brooklyn","9":"tag-brooklyn-headlines","10":"tag-brooklyn-news","11":"tag-budget","12":"tag-mamdani","13":"tag-mayor-zohran-mamdani","14":"tag-new-york","15":"tag-new-york-city","16":"tag-nyc"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/130980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=130980"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/130980\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/130981"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=130980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=130980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=130980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}