Following contentious talks, Mayor Eric Adams and the City Council agreed on Thursday to a $107 billion New York City budget, tempering some of the administration’s cuts, including those to libraries, CUNY, and senior programs.
The “handshake deal” increased the mayor’s executive budget proposal from late April by several hundred million dollars and was accomplished just before the start of the upcoming fiscal year – unlike last year.
“The agreement we reached today comes in the midst of a budget cycle dominated by great challenges and unexpected crises, but I am proud to say that we have successfully navigated through these many crosscurrents to arrive at a strong and fiscally responsible budget,” Adams stated.
The city’s affordable housing issue and how to pay for vital programs like universal pre-K, CUNY, and cultural institutions were the subject of a contentious debate between the mayor and Council Speaker Adrienne Adams. Following a vigorous campaign by council members and some celebrity backers, City Hall also restored funding for the city’s libraries, which had been facing a $36 million shortfall.
Here are some key takeaways:
- Despite a fall in student enrollment, there won’t be any immediate cuts to public schools;
- $95 million will be used to extend Fair Fares, a program that provides low-income New Yorkers with subsidized bus and subway fares
- 5,000 positions will be added to the city’s summer youth employment program to enable for school-year work prospects
- $32 million will be restored for CUNY;
- $184 million will be allocated for crisis response and violence prevention initiatives;
- $100 million will be spent in a public hospital program that offers free and inexpensive medical treatment to New Yorkers without insurance or who cannot afford one;
- $4 billion will be the projected accumulated cost of the migrant crisis in the next year.
- $8 billion will be set aside in reserves.
Adams had previously advocated for fiscal restraint and imposed broad cuts across several local departments that had an impact on some of the most well-liked programs, such public libraries and home-delivered meals for seniors.
