Comptroller Levine: Mamdani FY27 Budget "Pretty Modest" New Spending But Out-Year $7B FY28 Shortfall Looms, Relies on One-Shots

Comptroller Mark Levine's same-day reaction: praised Mamdani for "pretty modest" additional spending — "It's been a while since we've seen a mayor be this conservative on new spending." But Levine cautioned: "We are entering into very uncertain economic times because of the threat of a recession and the impact of AI, and I want us to build a very strong fiscal foundation that grows reserves." Flagged continued reliance on one-shot revenue measures and a projected ~$7B FY28 shortfall. Sets up the out-year fiscal cliff narrative even as FY27 is balanced.

• keptPied-à-terre tax on $5M+ second homes
• brokenCorporate tax hike ($1.75B/year)
• brokenDouble DCWP budget to $135M
• brokenIncrease Human Rights Commission funding to $21M

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