New York City Mayor Eric Adams, alongside New York City Council Speaker Adrienne Adams and other city officials, announced Friday that a $112.4B budget deal for 2025 has been reached. Officials say the budget addresses a $7.1B gap and aims to invest in the city's future.
Library supporters had lobbied against the cuts, arguing that they would force libraries to close on Saturdays to make up the shortfall. The fiscal plan also addresses housing affordability, with $2B in capital funds allocated to the New York City Department of Housing Preservation and Development and the New York City Housing Authority in order to support the Adams administration's goal of 500,000 new homes over the next decade.
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