Mayor Mamdani Announces $1.7 Billion in Agency Savings as Part of Budget Gap Strategy

City agencies identified over $1.7 billion in savings after Mamdani directed them to find efficiencies of 1.5% in FY2026 and 2.5% in FY2027, with initial approved measures totaling $237 million including contract renegotiations and technology consolidations.

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