Mamdani Closes $12 Billion Budget Gap with State Aid

Mayor Mamdani announced his administration has balanced the city's $124.5 billion budget, closing a $12 billion deficit with help from $4 billion in state aid. The deal avoids property tax increases while maintaining city reserves.

• 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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