January 30, 2009
The city’s budget deficit is on the rise and Mayor Michael Bloomberg will say how he plans to close it Friday.
The Bloomberg administration says the deficit has grown to $4 billion for this fiscal year, and blames falling tax revenues and the state’s budget.
The mayor is expected to announce cutting more than 23,000 city jobs if the state and governmental partners don’t provide aid.
Bloomberg is also expected to ask city unions to contribute to their healthcare plans if they are not doing so already.
Administration officials say the deficit would have been more than $6 billion if the city council and mayor hadn’t raised property taxes and cut spending at city agencies last year.
The mayor is expected to deliver his budget address at noon. NY1 will bring it to you live.
No comments:
Post a Comment