New York, NY – Mayor To Unveil NYC Budget Proposal

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     (AP File Photo / Frank Franklin II, Pool)New York, NY – New York City Mayor Michael Bloomberg is set to unveil a budget proposal that includes a plan to use nearly half a billion dollars in settlement money from the CityTime scandal to plug an unexpected budget shortfall.

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    Bloomberg is scheduled to present his budget proposal Thursday. He has until the end of June to negotiate a final version with the City Council.

    Bloomberg’s office released a partial preview of his plan a day before the announcement. It said that hard times for Wall Street firms are responsible for much of the unexpected shortfall. Tax revenues for next fiscal year are expected to be $352 million lower than anticipated.

    It’s a blow to advocates who had hoped to use the CityTime money to save threatened child care and after school programs.


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    2 Comments
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    Facts1
    Facts1
    11 years ago

    Yeah, he’ll have a trillion excuses to hurt any religious or private institutions.

    Child care is a less then 1% of the cities budget. Let him shelve all his green projects and discontinue his war on subway riders by discontinuing the subaway rehabilitation scam.

    11 years ago

    $352 million is pocket change for Herr Bloomberg. As his parting gift to the children Of NYC he can PERSONALLY fund their summer activities!