NYC Mayor Mamdani Claims $12 Billion Budget Crisis Is ‘Fixed’

EXCERPT:

MAMDANI: "We inherited a $12 billion budget deficit. Many said the only way out of this was slashing services and passing an austerity budget. We rejected that. That deficit is now zero. We achieved this in two major ways, increasing revenue and support from Albany and cutting waste and finding savings here in New York City. Thanks to Governor Hochul, State Senate Majority Leader Andrea Stewart-Cousins, Assembly Speaker Carl Heastie, and months of organizing from New Yorkers, we taxed the rich. That tax alone will raise half a billion dollars per year. And that's not all. Thanks to Governor Hochul and our partners in Albany, we finally got a better deal for New York City. We're getting billions more from the state to help tackle the gap. At the same time, we've been poring over the city budget to identify savings. We reduced unnecessary overtime and found smarter ways for government to deliver services. This all added up to $1.77 billion in total savings. This is your city. These are your tax dollars. And this budget should reflect your priorities.”