Record-setting $125.8 billion city budget reached in hand-shake agreement by NYC leaders
The budget aims at major investments aimed at lowering the cost of living and expanding opportunities for New Yorkers.
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City Council Speaker Julie Menin and Mayor Zohran Mamdani announced Tuesday an agreement on a $125.8 billion budget for the next fiscal year.
The budget aims at major investments aimed at lowering the cost of living and expanding opportunities for New Yorkers.
The spending plan boosts funding for schools, affordable housing, parks, libraries, and cultural institutions, while also setting aside $300 million for the city's rainy day fund to help prepare for future financial challenges. The budget now moves forward for final approval.
