New York City Mayor Bill de Blasio took office amid an economic expansion and immediately increased spending—granting retroactive raises to thousands of workers and adding new programs in a significant expansion of his budget. Now New York faces an uncertain post-Covid world that will likely challenge the next mayor, whom voters will elect in November.
Even with billions of dollars of federal stimulus coming to the city, de Blasio’s successor will have to grapple with significant budget limitations that require paring back city spending.
The good news is that Blasio’s spending spree during his eight years in office has left room for savings, as outlined in a new Manhattan Institute report.
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