Mayor Bill de Blasio and the New York City Council agreed Wednesday on a $98.7 billion budget for the coming fiscal year that relies heavily on federal stimulus dollars to boost the city’s recovery from the Covid-19 pandemic, including making investments in education and economic growth.
The new budget, which kicks in Thursday, is backed by more than $14 billion in federal aid, and is $100 million higher than a preliminary spending plan Mr. de Blasio unveiled in April. It is also roughly $10.5 billion, or 12% percent, higher than the city’s fiscal 2021 budget. In that budget, nearly $1 billion in funding was shifted from the New York Police Department to youth and social services following mounting calls to defund the NYPD, and the city dramatically cut spending at other agencies as it dealt with an economic crisis brought on by the pandemic.
“This is a recovery budget that will allow this city to come back strong,” said Mr. de Blasio, shortly before shaking hands with and hugging Council Speaker Corey Johnson, a fellow Democrat, during a City Hall press conference announcing the budget agreement.
The council later on Wednesday voted 39-6 to approve the budget when the body reconvened in-person for the first time in 16 months after holding meetings remotely during the pandemic.
“This budget will help rebuild our city,” said Mr. Johnson.
