In Zohran Mamdani's first executive budget in office, the city is relying heavily on state assistance to dig itself out of a multi-billion dollar hole.
The mayor, alongside Gov. Kathy Hochul, announced almost $8 billion in extra state aid over the next two years. The governor had recently said the city needs to look at their spending when Mamdani asked for more help.
Here's everything to know about Mamdani's spending plan.
On May 12, the executive spending plan was released by the mayor's office with a balanced budget, which is a legal requirement. In total, the FY2027 executive budget amounts to $124.7 billion.
Mamdani has previously claimed that his office had inherited a $12 billion budget gap from the previous administration that "consistently and intentionally understated" the deficit.
