1043
Mamdani balanced the NYC budget
(thelemmy.club)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 12 May 2026
1043 points (98.9% liked)
Progressive Politics
4652 readers
443 users here now
Welcome to Progressive Politics! A place for news updates and political discussion from a left perspective. Conservatives and centrists are welcome just try and keep it civil :)
(Sidebar still a work in progress post recommendations if you have them such as reading lists)
founded 2 years ago
MODERATORS
If NY has a 1B dollar budget. Receives 1B in revenue and pays 1B in expensives. It has a balanced budget.
It has nothing to do with where or how the money comes in or goes.
Both NY and NY city are required to have a balanced budget legally unlike the federal government. So there would be a problem if it wasn't balanced.
It is just a fancy way of saying that they don't have to raise property tax to get enough revenue for expected expenses. Now if those expected expenses exceeds revenue in 2027 is another matter.