$111B NYC budget deal will reverse majority of Adams' proposed cuts: sources

A handshake deal between Mayor Eric Adams and City Council Speaker Adrienne Adams is set to be announced Friday on a $111-plus billion budget that— are set to shake hands on the fiscal year 2025 budget agreement in a 2 p.m. event, sources said. Their handshake will set up a Council vote before a July 1 deadline.The budget will also restore funding to 3-K programs, but sources didn’t know to what extent.

Other restorations include $53 million to city cultural institutions, $19.6 million to the Department of Education’s “Summer Rising” program and $14 million to community schools, a source said.The best, worst and downright weird moments from the first presidential debateMany lawmakers and advocates had been outraged over the mayor’s cuts, which he contended were necessary to plug the hole of a multi-billion-dollar migrant crisis.

“It took a while, but I think once both sides agreed the city’s revenue forecast was looking way better than originally expected, it was inevitable that the Mayor would reverse the budget cuts,” said Councilman David Carr .Sources said that the budget also contains $2 billion in new spending on housing.He cast the high-profile bookish debate as the fiscal year 2025 “dance, same as the last.

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