Levine Warns NYC Faces $12B Budget Gap, Plans Activist Oversight
TL;DR Summary
New York City Comptroller Mark Levine says Mayor Zohran Mamdani faces a cumulative $12 billion budget gap—about $2 billion this year and roughly $10 billion next year—and vows to be an activist watchdog, outlining plans to triple the pension funds’ investment in subsidized housing to $3 billion, resume Israeli-bond purchases for the pension portfolio, and audit the Housing Preservation and Development agency to speed housing, while noting tax increases are unlikely unless Hochul includes them in her budget.
- City Facing a Bigger Budget Deficit, Says Comptroller THE CITY - NYC News
- A $12.6 Billion Budget Gap May Complicate Mamdani’s Affordability Plans The New York Times
- NYC’s New Comptroller Sounds Alarm on Two-Year Deficit of $12.6 Billion Bloomberg.com
- NYC faces $12B budget deficit, drawing comparison to 2008 financial crisis - as Zohran Mamdani uses dire forecast to push taxing the rich New York Post
- City faces multibillion-dollar budget gaps – and not because of the economy, Comptroller says amNewYork
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