NYC Mayor Adams Halts Budget Cuts, Reduces Migrant Spending

NYC Mayor Eric Adams cancels upcoming budget cuts and relaxes spending controls, citing a rosy financial outlook and projected savings from reduced migrant sheltering costs. The reversal comes after a Moody's report reaffirmed the city's high credit rating and revised revenue projections upward by $3 billion. However, critics warn that the city's fiscal condition remains precarious, and the rollbacks may weaken the mayor's bargaining position with unions and legislators. Adams emphasizes the need for additional support from Albany and Washington, D.C., but the decision to cancel the savings plan complicates his case to the federal government and gives away bargaining chips in upcoming battles in Albany.