Mamdani Declares Budget Crisis, Seeks State Bailout

Mayor Zohran Mamdani declared a “budget crisis,” requested a bailout from the state government, and pushed back the deadline for completing the city budget by at least 10 days.

“We cannot close this deficit with savings alone. We need new revenue, and we need a structural reset in our relationship with the state. That is the only way to meet our legal obligation to pass a balanced budget.”