Mayor and Council Speaker reach $112B budget deal that restores many unpopular cuts

By Ethan Stark-Miller Posted on June 28, 2024

Mayor Eric Adams and City Council Speaker Adrienne Adams capped off another contentious round of city budget negotiations on Friday by shaking hands on a tentative $112.4 billion Fiscal Year 2025 spending plan that restores many of the mayor’s unpopular cuts.

The not-yet-finalized budget deal comes just two days before the June 30 deadline by which the City Council must adopt a financial blueprint for the upcoming fiscal year. It also dispels speculation that the spending plan would be late this year.

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