Down To The Wire For New York City’s Budget; De Blasio Says $9 Billion In Revenue ‘Has Evaporated’ Due To Pandemic

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NEW YORK (CBSNewYork) – New York City is facing its budget deadline, which is set to land Tuesday.

“This has been the toughest budget that we’ve had to do as an administration here at City Hall. We’re in a whole different situation in fact than New York City has ever faced in our history. A health care crisis, an economic crisis, a disparity crisis, a budget crisis all wrapped into one, and on a massive, massive scale,” Mayor Bill de Blasio said.

The mayor said that $9 billion in revenue “has evaporated” in the past three months due to the coronavirus pandemic. De Blasio said financial relief from the federal government for cities and states has been “missing in action.” He also said lawmakers in the State Senate in Albany have not acted to grant New York City the ability to undertake its own long-term borrowing as a means of providing relief.

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“At some point, if Washington doesn’t act, if Albany doesn’t act, then we end up in a very tough situation,” he said.

WATCH: Mayor Bill de Blasio Gives Daily Briefing

The mayor said it is clear “labor savings” are going to be needed in the upcoming budget, and he hopes that Washington will act on the stimulus.

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The mayor says his budget plan shifts more than $500 million to youth recreation centers and NYCHA developments.

“We can do this. We can strike the balance. We can keep this city safe,” he said.

The mayor emphasized that he will not raise property taxes and has no intention of doing it.

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