NYC Mayor de Blasio, Speaker Johnson announce $98.7 billion 'recovery budget' deal

NEW YORK CITY (WABC) -- Mayor Bill de Blasio and City Council Speaker Corey Johnson announced agreement Wednesday on a $98.7 billion NYC "recovery budget" for FY 2022.

"This is a radical investment in working families, and this is what we need right now to come out of this pandemic and move forward," de Blasio said.

The announcement was made in the City Hall rotunda. De Blasio and Johnson were surrounded by staff and other City Council members.

It marked the first time City Council members were back in City Hall since the start of the pandemic.

The foundation for the budget is "the strategic investment of stimulus funds that will drive New York City's economic comeback and build a recovery for all of us," de Blasio said.

It is designed to meet five key objectives: finishing the fight against COVID-19, building on strong reserves, boosting economic growth in neighborhoods, delivering academic and emotional recovery for every student, and keeping communities safe.

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