New York City Council passes record $101 billion budget deal

New York City Council passes record $101 billion budget deal

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NEW YORK — In a late night vote, the New York City Council passed a record $101 billion budget deal

The final approval came around 11 p.m. Monday after reaching an agreement with Mayor Eric Adams last week. 

As CBS2’s John Dias reported, the 2023 budget is the biggest in the city’s history. It jumped by more than $2 billion, because the mayor says the city collected more taxes than needed, and it was saving the extra funds for a rainy day.

Following an hours-long debate, the Council passed the spending plan by a vote of 44-to-6. The chair of the financial committee said in a statement, “This budget is a down payment on New York City’s comeback – not the way it was, but the way it should be.”

It includes expanding the New York City earned income tax credit by $250 million to put more money in working families’ pockets, boosting the city reserve to $8.3 billion — the highest level in city history — adding $3 billion to the labor reserve in anticipation for negotiating labor agreements, and adding funds for public safety resources. 

The fine print also includes expanding the summer workforce program, increasing funding for trash basket pickup, and adding more dollars for new homeless shelter beds. 

The mayor also signed off on adding $90 million more to the NYPD

“We’re going back to single patrol — what I did as a transit officer — and that is going to double the amount of coverage we can see. I’m going to deploy New York taxpayers’ money correctly, and by doing so with their police department,” Adams said.

The Department of Education is losing another $600 million this year. The mayor says it’s because of a slowdown of federal pandemic-related aid and loss of student enrollment. 

“Nothing is more dysfunctional than paying for something that when you decrease the numbers, you have to readjust based on the number of students you have,” said Adams. 

The mayor insists that even with this cut, every student will have 100% of their student funding. 

The budget is due July 1. 

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