politics-finance4.06 min read "Mayor Adams Adjusts NYC Budget Cuts as Tax Revenue Surpasses Expectations"
New York City Mayor Eric Adams is set to release a $109.4 billion budget with reduced budget cuts due to higher revenue projections, decreased spending on migrants, and more state aid than anticipated. The unexpected windfall of nearly $3 billion in additional tax projections has allowed the mayor to soften extensive budget cuts proposed last year, addressing concerns from New Yorkers upset by service cuts. The rosier budget projections could complicate Adams' pleas for more federal money to address migrants but deliver a political win to the City Council, which had pushed back on spending reductions.
2 years ago•Source: POLITICO
