June 19, 2019

Mayor, Council Agree on New Budget for New York City

Read the entire article by Katie Honan on the Wall Street Journal.

New York City Mayor Bill de Blasio and the City Council on Friday agreed on a record $92.8 billion budget, which includes funding for more social workers in schools and additional money for parks and cultural institutions.

The agreement came after two months of the council wrangling between City Hall and the council for more funding for certain services. The budget for fiscal year 2020 was $300 million more than the mayor’s budget proposal, which was released in April. Mr. de Blasio, a Democrat, said at the announcement of the accord that, while the amount rose, the city had also put away more money in its reserves and identified additional savings.

To read the complete article, visit the Wall Street Journal.