New York City Mayor Zohran Mamdani outlined a widening fiscal gap facing the city and emphasized the need for additional revenue and state-level changes, as officials moved to delay a key budget deadline amid ongoing negotiations.
Mamdani stated :
New York City faces a budget crisis of a historic magnitude. We inherited a deficit larger than any since the Great Recession. Years of mismanagement and chronic under budgeting, alongside a structural imbalance between what New York City sends to the state and what we receive in return have taken a toll. We cannot close this deficit with savings alone. We need new revenue, and we need a structural…
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