Let’s be honest: New York faces very real fiscal challenges in the coming years. But our resilient city is doing better than you think.
As I discussed in my comments to the Council, year-to-date revenues through April are up 5.8% over last year. We’re back at 99.7% of pre-pandemic job levels, and most economists now predict we will avoid a recession.
However, we do need a serious, long-term savings plan to address growing outyear budget gaps, made wider by the recent labor contracts, out-of-control overtime, the expiration of federal Covid aid, and the cost of providing shelter to asylum seekers without adequate federal reimbursement.
Mayor Adams’ proposals to cut core services like CUNY, public libraries, 3-K, senior meals, and supportive housing in this year’s budget – especially in the wake of Jordan Neely’s tragic killing – are both unnecessary and short sighted.
I talked about these cuts in my statement to the City Council earlier today, which you can watch in full here.
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