Mayor de Blasio announces agreement on new New York City budget

NEW YORK (WABC) -- New York City Mayor Bill de Blasio says he has reached agreement with the City Council on a new budget for fiscal year 2019.

The mayor, along with City Council members, announced the deal together late Monday afternoon.

The new $89.15 billion budget includes an agreement to subsidize MetroCards for the poorest New Yorkers.

More than $100 million from the spending plan will go toward Fair Fares, providing half-price subway and bus rides to residents living under the federal poverty line.

City Council Speaker Corey Johnson had pushed for the program.

The budget agreement also includes the expansion of 3-K for All, serving 14,000 students in 12 districts while also providing Fair Student Funding for New York City schools. Additionally, the budget will boost supportive housing production by 40 percent to 700 apartments per year, city officials said.

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