The City Council has passed a $98.7 billion budget for fiscal year 2022—the largest in the City’s history—buoyed by $14 billion in Federal aid. Mayor Bill de Blasio and Council Speaker Johnson hailed the budget as a significant investment in New York City’s recovery. The budget restores many City programs to pre-pandemic levels and makes further investments, particularly in education. It also includes funding for the City’s vaccination campaign, the life sciences industry, and mental health programs like crisis response and mobile treatment teams.
City Leaders Agree on $98.7 Billion “Recovery Budget”
July 7, 2021
Mayor Implements Significant Budget Cuts
New York City Mayor Eric Adams on Thursday released his November financial plan, which includes cuts he described earlier this week as “extremely painful.” The plan immediately implements a 5% spending cut to all City agencies ahead of another two rounds of 5% cuts in January and April, totaling about $4 billion over the next...
November 17, 2023
Mayor Adams Releases Budget Proposal
Mayor Eric Adams last Thursday released his preliminary budget proposal for FY 2024. The $102.7 billion proposal is about 1.5% higher than the current FY’s budget. The Mayor outlined fiscal challenges such as the slowing national economy, rising health care costs as pandemic stimulus funding dries up, the arrival of tens of thousands of asylum...
January 20, 2023
Mayor Adams and City Council Focus on City Budget
Mayor Eric Adams released his formal proposed budget for fiscal year 2023 on April 26. City agencies involved in pandemic response have a smaller total pool of funding compared to last year now that Federal relief funding no longer available. However, the proposed budget includes $1.3 billion in new capital funding for health- and hospital-related...
May 17, 2022