16 hours ago · The gap amounts to $12.6 billion in this fiscal year and next, which will present a major challenge for Mr. Mamdani.

And he projects next year’s nut to hit a jaw-dropping $10.4 billion. Mamdani will have a “difficult” task in plugging the hole in the budget he rolls out in a few weeks, Levine says. NYC faces $12B budget …

Dec 17, 2025 · Mayor-elect Zohran Mamdani will have to fill a massive $6.5 billion budget gap by next summer, according to a blistering new report from the Independent Budget Office.

16 hours ago · The gap complicates Mamdani's promises of universal daycare, free bus service, and affordable housing initiatives, potentially requiring budget cuts if economic growth falters. With a …

Budget experts say the coming year’s deficit may be much smaller than Adams estimates. A booming Wall Street is expected to boost income and corporate taxes for both this fiscal year and next.

Nov 5, 2025 · Even if Mamdani avoids tough choices at the start of the year, a budget squeeze seems inevitable. The Citizens Budget Commission estimates budget gaps for the second and third years of …

As Mamdani gears up to lead, he’s facing a financial quagmire that could swell to over $13 billion by 2029, driven by lagging economic growth and underestimated costs, according to a stark report from …