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

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.