Power & Politics: One-on-one with NYC Comptroller Mark Levine; Mamdani's progress on city-run grocery store plan
Facing a $12 billion budget deficit when he first took office, New York City Mayor Zohran Mamdani is now declaring a major milestone in his administration’s fiscal strategy.
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Facing a $12 billion budget deficit when he first took office, New York City Mayor Zohran Mamdani is now declaring a major milestone in his administration’s fiscal strategy.
The mayor has released his proposed fiscal year 2027 budget totaling $124.7 billion, emphasizing that it closes the deficit without introducing new taxes. The plan does not include a proposed wealth tax, avoids a property tax increase, and leaves the city’s rainy day fund untouched.
The announcement marks a significant moment for the new administration as it seeks to balance fiscal responsibility with long-term economic stability.
News 12’s Heather Fordham spoke with New York City Comptroller Mark Levine, who weighed in on the mayor’s budget proposal and its potential long-term impact on the city’s finances.
Meanwhile, Mamdani is also moving forward with one of his key campaign promises, expanding access to affordable food through city-run grocery stores.
The second store is set to open in the Hunts Point section of the Bronx.
City officials say the initiative aims to address food insecurity while providing residents with more accessible, lower-cost grocery options.
