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Wall Street Revenue Boosts NYC Budget Prospects | New York City News
Mayor Zohran Mamdani is preparing to revise his $127 billion budget, buoyed by a boost in Wall Street tax revenue that may help alleviate the budget deficit. Meanwhile, Governor Kathy Hochul has indicated a potential tax increase for the wealthy, shifting the debate toward the specifics of such increases. The upcoming budget modification will assess the city's fiscal health while highlighting the challenge of finding $1 billion in savings and potentially cutting costs in vital social programs.
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