NYC mayor orders more spending cuts

New York Mayor Michael Bloomberg is plunging hisknife back into the budget and ordering all city agencies to slashspending by another 7 percent for next

NEW YORK (AP) - New York Mayor Michael Bloomberg is plunging hisknife back into the budget and ordering all city agencies to slashspending by another 7 percent for next year.

The move comes a monthafter he already proposed unpopular cuts and tax hikes amid a grimeconomic slowdown.

Bloomberg's budget director has warned agency heads that taxcollections in November were even lower than forecast.

Agency heads are required to submit spending reductions to themayor's budget office by Dec. 22. The plans must identify cuts toreach a 7 percent reduction by July.

The 7 percent reduction equals about $1.4 billion citywide.

advertisement | advertise on News 12

Trending Video

Con Edison has offered a few tips you 1 Con Ed offers storm safety tips
Police have made an arrest in connection with 2 Police arrest man accused of hiding body parts at Hunts Point waste station
Brooklyn residents flocked to stores on Sunday to 3 Brooklyn residents prep for nor'easter
Police say the pedestrian was hit about 6 4 Driver charged after teen hit by SUV
Windswept rain moved through the Sheepshead Bay neighborhood 5 High wind gusts, rain hit Sheepshead Bay

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE