New York City Mayor Eric Adams and Governor Kathy Hocul each released their fiscal 2025 budget on Tuesday.
Adams was able to reduce cuts to certain departments like police and fire, but still proposed services to be slashed for schools. The state offered the mayor over $2 billion to take care of asylum seekers and gave the go-ahead for Adams to continue to have public school oversight for four years.
The mayor unveiled a $109 billion budget yesterday, noting hat the city's near-term financial picture was better than expected. Officials are projecting nearly $3 billion more in tax revenue from 2023 to 2024, higher than what the City Council had expected at $1.5 billion.
That said, the Department of Education saw its budget lowered by $100 million. Services were also cut to the Department of Aging, Social Services, Youth and Community Development. Libraries will remain closed on Sundays but some will be open on Saturdays.
The governor, who released a proposed budget of $233 billion, said she would commit $2.4 billion so the city could combat the migrant crisis. She offered the State University of New York and the City University of New York $1.2 billion for capital projects and $207 million for operations. The Metropolitan Transportation Authority could receive $7.9 billion, as well as $16 million to extend the Second Avenue subway line west to Broadway, if the budget is approved as is.
