Mayor Eric Adams proposes $112 billion executive budget; critics say it's too 'frugal'

Wednesday, April 24, 2024
Mayor Eric Adams unveils 2025 executive budget
NJ Burkett was at City Hall with details on the mayor's newly revealed fiscal plan for 2025.

NEW YORK CITY (WABC) -- Over $100 billion is the new fiscal year budget proposed by New York City Mayor Eric Adams, but it's the additional $1 billion he's hanging on to, just in case, that his critics are not pleased with.

Mayor Adams is relentlessly optimistic. He insists that the city has more than recovered from the pandemic and that the future is bright.

"Like it or not, we're doing the damn thing. We're doing the damn thing," he said.

He unveiled his 2025 budget on Wednesday, which restores most of the cuts he proposed last year.

Funding has been restored to education, pre-school, and municipal services. The NYPD will get two more academy classes, which means more officers on the streets and in the transit system.

"We have not laid off one city worker. We have not raised taxes," Adam said.

ALSO WATCH | Mayor Eric Adams addresses top issues facing NYC

Mayor Eric Adams joined Eyewitness News at 5 to discuss his 2025 budget plan and the ongoing protests at New York City's Ivy League institutions.

Critics, he says, should be pleased, but they're not.

"We've maintained all along these cuts were never necessary in the first place and we've got the money to restore these cuts, so let's just do it," said New York City Council Finance Chairman Justin Brannan.

Brannan says the mayor is being too frugal. The fact is, tax revenue this year was more than $2 billion higher, but Adams' executive budget leaves more than $1 billion unspent. That's money that could be spent on libraries and social programs.

The mayor says the city needs to be prepared for unseen crises.

"A lot of people see how much you have and they respond, but why don't you just spend, spend, spend," Adam said.

But Brannan says the mayor overreacted last year, and he's overreacting now.

"We're going to fight for all of those priorities: things like 3-K libraries, cultural, you know, investments in mental health and programs to reduce recidivism," he said.

The mayor is taking $1 billion off the table and holding it in reserve. The City Council clearly won't stand for it.

Expect major changes to the budget in the weeks to come.


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