Schenectady Mayor Gary McCarthy has vetoed the 2026 city budget recently passed by the city council.
In announcing the veto Thursday, McCarthy said the budget “relies on incorrect and wholly unrealistic assumptions regarding revenue projections” and “would completely deplete the City’s fund balance, which would be fiscally irresponsible.”
The city council passed the budget Saturday; McCarthy’s financial plan originally included a 17% tax increase, but the adopted budget increased taxes by 1.8%.
The veto comes as the city is facing a $6 million deficit.
“My hope is that the Council goes back to the table with a plan that includes realistic revenue projections,” McCarthy said Thursday.