As the New York City Council says it found $6 billion to close the city budget gap without increasing city property taxes, Mayor argued that that the proposal would ultimately shift the burden onto working New Yorkers.
“Speaker Julie Menin’s preliminary budget proposal would result in slashing billions of dollars from agency budgets, which would force the City to cut services,“ Mamdani said in a statement. “Any proposal that claims we can close this gap without significant new revenue is unrealistic.”
In an Instagram video, Mamdani later breaks down what the proposal actually means, captioning it: “What New Yorkers should know about the budget proposal released today by the New York City Council.”
He said, “Back in January, we explained how the budget process works. Well my friends, we are in middle of it now. Council Speaker Julie Menin just released her budget proposal. Her plan claims to close the city’s $5.4 billion fiscal gap without taxing the rich or cutting services. The problem is? That’s not what it would do. If her proposal was adopted it would be slashisng billion of dollars from agency budget and working New Yorkers would pay the price.”
He further adds, “It double counts savings, overestimates revenue, exaggerates savings on interest payments. And in midst of this budget deficit, the Speaker’s $6 billion proposal asks Albany forjust one thing – more time to reduce class sizes.”
“My position? Tax the rich. Make sure wealthiest of the and most profitable corporations pay their fair share and end the drain. For a long time, the state has take more from the city than city has received in return and I am working with Albany to change that. Without it, our deficit won’t dissapear, it will repeat. Year after year, asking the future generations to shoulder the burden. We will solve this budget crisis. But, I am not going to let it come at your expense,” the mayor concludes.
