New York City is in deep water financially. The Covid-19 pandemic precipitated a fiscal emergency for the Big Apple on a scale not seen since the Great Depression. The city’s budget entered this year with little room for error and with tax revenues highly susceptible to volatility. The subsequent months saw New York City officials patching the budget with short-term fixes while betting on federal aid and a state sign-off on borrowing, neither of which have come to full fruition. Today, the city still has a budget gap of $4 billion for fiscal year 2022 that it does not have the funds to cover.
Join some of New York’s top fiscal experts to discuss the state of the city’s finances and ways Gotham can turn the fiscal tide.