#rainy-day-fund
#rainy-day-fund

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NYC comptroller urges rainy-day fund to offset potential AI fallout on city's economy

Invest 16% of annual tax revenue into a rainy-day fund to offset potential AI-driven economic damage and recession.

Menin pushes back on Mamdani's plan to tap rainy day fund | WATCH

NYC Mayor Mamdani and City Council Speaker Menin clash over using the $2 billion rainy day fund to close a $5.4 billion budget deficit, with the council firmly opposing the withdrawal.

New York Islanders

fromIntelligencer

3 months ago

Why Is Mamdani Threatening a Property Tax Hike?

City faces a potential 9.5% property tax increase unless the state enacts a 2% income tax hike on residents earning over $1M.

fromwww.amny.com

3 months ago

MAMDANI'S FIRST BUDGET: Concerns mount over possible property tax increase | amNewYork

City Council Speaker Julie Menin and Finance Chair Linda Lee said the proposal begins a dialogue about protecting New Yorkers and the city's fiscal future. Both will be leading the Council's negotiations with Mamdani's team in hammering out a final budget this June. At a time when New Yorkers are already grappling with an affordability crisis, dipping into Rainy Day reserves and proposing significant property tax increases should not be on the table, they said.