New York City has a 2019 fiscal budget ahead of schedule, Mayor Bill de Blasio and City Council Speaker Corey Johnson announced Monday.
Standing in front of lawmakers during a City Hall news conference, the pair touted a balanced $89.15 billion budget that includes $106 million for half-priced MetroCards for low-income New Yorkers – a proposal called Fair Fares that de Blasio initially wanted to fund with a state millionaire’s tax.
“We remain focused on a much bigger playing field, which is the future of the MTA. We need a sustainable funding source,” de Blasio added.
The mayor said he intends to continue advocating for a millionaire’s tax to help pay for the state-run MTA’s myriad problems, adding that he agreed to fund Fair Fares to help get a program for 800,000 of the city’s most vulnerable residents off the ground faster.
The budget agreement between the mayor and the City Council comes nearly three weeks before it was due on July 1.
“It’s our first budget together and I think it’s a really great one,” de Blasio said of his negotiations with Johnson. “It is balanced; it is progressive; and it is early.”
Johnson highlighted several “big picture” accomplishments achieved in the 2019 fiscal budget – his first as City Council speaker – including funding for Fair Fares and increased contributions to the General Reserve, Retiree Health Benefits Trust Fund and the Capital Stabilization Reserve.
“We worked extremely hard to get it right,” Johnson said. “This is a good day for the city of New York and for the City Council.”
The budget also accounts for the additional funding promised to the New York City Housing Authority following a settlement by the city and a scathing 80-page complaint filed by U.S. Attorney of the Southern District of New York Geoffrey Berman on Monday.
“It shows very clearly that the City of New York is going to do everything in [its] power to help fix the problems at NYCHA,” de Blasio said of the funding allocation.
Other highlights of the budget include:
- $150 million over three years for capital investments to increase school accessibility.
- $12 million to expand the NYPD’s body camera program to every patrol officer by the end of 2018.
- Preserves $125 million for Fair Student Funding.
- $200 million for heating upgrades at NYCHA developments and an additional $13 million for heating improvements ahead of the next winter season.
- $3 million to expand the city’s Runaway Homeless Youth program.
- $3.5 million for litter basket pickup increases.
- $10.3 million for expanding the Summer Youth Employment program by 5,000 slots – up to 75,000.
- $9 million for adult literacy programs and $8 million for the Comprehensive Afterschool System of New York City.
- $9.6 million to maintain city parks and $1.7 million to extend the public beaches and pool season for one week past Labor Day.
- $11.4 million for the Crisis Management System, including the Cure Violence program.
- Acceleration of $100 million toward supportive housing in the Department of Housing Preservation and Development’s affordable housing budget for de Blasio’s Housing New York 2.0 plan.
The City Council still needs to vote on the budget agreement before it is officially adopted.
