Budgets

Ed Koch, the late mayor of New York, used to ask residents "How am I doin' ?" The Citizens Budget Commission plans to do that this fall with a survey.

The city ranks last among 32 U.S. cities in an index that tracks secondary market prices for general obligation bond debt.

The governor said the budget would needlessly wipe out a rainy-day fund.

Mayor Brandon Johnson is set to unveil a spending blueprint with new revenue proposals next month.

"In the coming weeks, we will be taking a much closer look at the challenges we face and how we will address those challenges reasonably and responsibly," said Mayor Brandon Johnson.

But a change in how foreign corporations are taxed brought down total revenue for the year.

"Coupling the costs of a national crisis that has fallen onto New York City with COVID funding that is running out and reduced revenue growth, our city's financial future may be at risk if we do not act," Mayor Eric Adams said.

In the first half of the year, private-sector jobs in the Big Apple surpassed pre-pandemic levels as payroll gains outperformed the national growth rate. However, Mayor Adams says there is one big problem that "will destroy New York City."

Sports wagering is forecast to increase the state's revenue by about $23 million a year when it's fully implemented. Retail locations open this week and mobile applications go online at the end of the month.

State economists announced during a forecast presentation to lawmakers that taxpayers will see a record "kicker" rebate when they file next year's taxes.