Posted inEconomy
As Mamdani Pulls Budget Rabbit From Hat, Watchdogs Fret Over ‘One-Shots’
The mayor’s use of one-time cash infusions sets the table for a renewed fight over taxing the wealthy next year.
Budget
Posted inCity Government
Mamdani Plugs $12 Billion Budget Hole With Hochul Assist
An infusion of state aid will help the mayor close the massive two-year budget shortfall, City Hall said, as fiscal watchdogs urged caution.
Posted inAlbany
Deal or No Deal? Confusion Over Hochul’s $268 Billion Budget
The governor said the new state budget includes money for universal childcare, police on the subways — and a “pied-à-terre” tax on the apartments of wealthy non-residents.
Posted inHousing
This Voucher Is Supposed to Help Homeless New Yorkers Leave Shelters. A Majority Don’t Qualify.
Facing a budget gap, the Mamdani administration is fighting a court battle against laws that expand the CityFHEPS rental voucher.
Posted inDevelopment
A Superluxury Condo Sold for $87.7 Million. Will NYC’s New Pied-à-Terre Tax Apply?
The way the city measures value for high-end condos and co-ops radically underestimates their worth, raising questions about how a new proposal from the Gov. Kathy Hochul and Mayor Zohran Mamdani would tax them.
Posted inEconomy
Job Losses and Wall Street Woes Cloud NYC’s Economic Outlook
New jobs numbers are front and center as Albany and City Hall wrangle over tight budgets and Mayor Mamdani’s push for tax increases.
Posted inPolitics
Mayor Rips ‘Unrealistic’ City Council Plan to Balance Budget Without Hiking Property Taxes
The Council’s proposal resists Mamdani’s push to raise the one major tax the city controls — but he says it would require cutting services.
Posted inCity Hall
Mamdani Budget Director Pins Blame for Fiscal Mess on Adams
Facing skeptical questions from the City Council, Sherif Soliman testified that an unprecedented raid on reserves was a “necessity” to balance the budget.
Posted inTransit
MTA Goes to Court Again to Force $60M for Second Ave. Subway From Feds
The lawsuit accuses the federal government of wrongfully withholding contractually obligated money for the planned $7 billion extension of the Manhattan train.
Posted inPolitics
Confusion and Doubt Greet Mamdani’s Property Tax Ploy
Grassroots supporters are taking to Albany and city streets to push the mayor’s message that a “last resort” property tax hike would be Gov. Kathy Hochul’s fault.