Gov. Kathy Hochul and Mayor Zohran Mamdani at a press convention in January 2026.
(Susan Watts/Workplace of Governor Kathy Hochul)
Monday, Feb. 16, marks the forty seventh day of Zohran Mamdani’s time period as mayor. New York News is following Mamdani round his first 100 days in workplace as we intently monitor his progress on fulfilling marketing campaign guarantees, appointing key leaders to authorities posts, and managing the town’s funds. Right here’s a abstract of what the mayor did.
On the eve of Mayor Zohran Mamdani’s first preliminary price range presentation, Gov. Kathy Hochul introduced a $1.5 billion state funding dedication aimed toward easing New York Metropolis’s mounting fiscal pressures and narrowing the projected $7 billion price range hole over the following two fiscal years.
Below the settlement, New York State will present $1 billion in Metropolis Fiscal 12 months 2026 and $510 million in Metropolis Fiscal 12 months 2027, together with $510 million in recurring funding.
The help is meant to cowl prices that shifted from the state to the town beneath prior administrations, based on a joint announcement by Hochul and Mamdani.
Roughly $300 million of the recurring funds will assist youth programming, $150 million will restore sales-tax revenues that may in any other case have been retained by the state, and $60 million is earmarked for public well being spending. A further $500 million can be allotted towards shared state–metropolis priorities to be decided in later negotiations.
“A strong New York City means a stronger New York State,” Hochul stated in an announcement, calling the funding a method to defend providers and stabilize the town’s funds.
She framed the deal as a part of an ongoing effort to strengthen cooperation between the state and metropolis — messaging that comes after Mamdani spent a big portion of his testimony in Albany final week, accusing the state of “draining the city’s resources” amid what he described as a fiscally unbalanced relationship.
Talking at Tin Cup Day, Mamdani argued {that a} structural imbalance within the fiscal relationship between the town and the state was among the many root causes of NYC’s monetary pressure. He warned that Albany has more and more shifted tasks onto the town with out offering the recurring income wanted to pay for them, forcing Metropolis Corridor to depend on one-time help and short-term fixes.
For her half, Hochul final week pushed again on requires a broader overhaul of the state-city fiscal relationship, arguing that Albany has already stepped up its assist for NYC annually since she took workplace. Whereas she has framed that report as proof that the state is assembly its obligations, she has remained agency in rejecting Mamdani’s calls to lift taxes on the rich and huge companies as a part of the answer to plug the fiscal gaps.
Mamdani, who is ready to stipulate his administration’s fiscal method on Feb. 17, stated he was “heartened by this budgetary progress and Governor Hochul’s partnership at this critical moment.”
“This is what it looks like to begin a new, productive, and fair relationship between City Hall and Albany – focused on delivering for working New Yorkers,” Mamdani stated of the announcement.
Andrew Rein, president of the Residents Funds Fee, stated the extra funding from Hochul is a significant enhance for Metropolis Corridor, however not a cure-all.
It is a creating story. Verify again for updates.
