Mayor Zohran Mamdani is directing every city agency to find an additional 2.5% in savings in the current fiscal year, with the same target extending into Fiscal Year 2028 and the later years of the city’s financial plan.
The renewed belt-tightening push comes less than a month after the city adopted its $125.8 billion budget. and represents a fresh round of savings beyond those already built into agency spending plans.
