When the New York City Council announced it had found $6 billion to close the city’s budget deficit without raising property taxes, Mayor Zohran Mamdani argued the proposal would ultimately shift the burden to working New Yorkers.
“Speaker Julia Menin’s preliminary budget proposal would cut billions of dollars from agency budgets, forcing the city to cut services,” Mamdani said in an Instagram video today. “Any suggestion that we can close this gap without significant new revenue is unrealistic.”
In an Instagram video, Mamdani later explained what the proposal actually means, saying, “What New Yorkers should know about the budget proposal released today by the New York City Council.”
He said: “In January, we explained how the budget process works. Now, my friends, we’re in the middle of it. Council President Julie Menin just released her budget proposal. Her plan claims to close the city’s $5.4 billion fiscal gap without taxing the wealthy or cutting services. The problem? That wouldn’t do it. If passed, her proposal would mean the agency would cut a billion working dollars from New York’s budget.”
He added: “It’s double-counting savings, overestimating revenue, exaggerating savings on interest payments. And in the midst of this budget deficit, the chairman’s $6 billion proposal from Albany only asks for one thing – more time to reduce class sizes.”
“My position? Tax the rich. Make sure the wealthiest New Yorkers and the most profitable corporations pay their fair share and end the drain. For too long, the state has taken more from the city than the city has gotten in return, and I’m working with Albany to change that. Without that, our deficit won’t go away, it’s going to happen again. Year after year, we ask future generations to pass this burden on at your expense. But we’re not going to address this budget crisis.” concluded the mayor.
