Two of New York City’s top fiscal watchdogs are set to warn the City Council Tuesday that Mayor Zohran Mamdani’s first budget relies so heavily on one-time measures and accounting maneuvers that the city’s structural deficit is only getting worse — even as the Council’s own economists project nearly $2 billion more in tax revenue than the mayor’s office.
City Comptroller Mark Levine is scheduled to testify before the Council Finance Committee that the city faces an $8.8 billion budget gap in fiscal year 2028, exceeding the $7.1 billion shortfall projected in the mayor’s own executive budget.
