{"id":594619,"date":"2026-02-16T19:05:10","date_gmt":"2026-02-16T19:05:10","guid":{"rendered":"https:\/\/www.europesays.com\/us\/594619\/"},"modified":"2026-02-16T19:05:10","modified_gmt":"2026-02-16T19:05:10","slug":"hochul-grants-1-5b-to-nyc-ahead-of-mamdanis-first-budget","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/594619\/","title":{"rendered":"Hochul grants $1.5B to NYC ahead of Mamdani&#8217;s first budget"},"content":{"rendered":"<p>Gov. Kathy Hochul is giving another $1.5 billion in state funding to New York City, one day before Mayor Zohran Mamdani is poised to unveil plans to balance his first city budget and less than a week after he traveled to Albany begging legislators to <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/politics\/2026\/02\/16\/nonprofits-scramble-to-protect-funding-as-city-faces-budget-gap\" target=\"_blank\" rel=\"nofollow noopener\">approve additional dollars for the city<\/a>.\u00a0<\/p>\n<p>\u201cA strong New York City means a stronger New York State. This investment protects services and puts the city on stable financial footing,\u201d Hochul said in a press release. \u201cNew Yorkers expect the state and the city to work together, and I\u2019m proud to partner with the Mayor to deliver for working families.\u201d<\/p>\n<p><b>What You Need To Know<\/b><\/p>\n<ul>\n<li>Gov. Kathy Hochul is giving another $1.5 billion in state funding to New York City, one day before Mayor Zohran Mamdani is poised to unveil plans to balance his first city budget and less than a week after he traveled to Albany begging legislators to\u00a0approve additional dollars for the city<\/li>\n<p><\/p>\n<li>Budget sources told NY1 the amount will be broken up into $1 billion next year and $510 million in the 2027-2028 fiscal year<\/li>\n<p><\/p>\n<li>\u00a0The move also follows Mamdani\u2019s\u00a0all but dead on arrival pitch\u00a0to Hochul and state lawmakers to greenlight new taxes on the wealthy and big corporations last Wednesday during \u201cTin Cup Day\u201d in Albany<\/li>\n<\/ul>\n<p>Budget sources told NY1 the amount will be broken up into $1 billion next year and $510 million in the 2027-2028 fiscal year.<\/p>\n<p>But the move also follows Mamdani\u2019s <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/politics\/2026\/02\/12\/mamdani-says-city-budget-crisis-isn-t-as-bad-as-initially-thought\" target=\"_blank\" rel=\"nofollow noopener\">all but dead on arrival pitch<\/a> to Hochul and state lawmakers to greenlight new taxes on the wealthy and big corporations last Wednesday during \u201cTin Cup Day\u201d in Albany.<\/p>\n<p>Mamdani argued the city needs $7 billion to close its gap, revealing a financial hole $5 billion smaller than he projected and no longer on par with the \u201cGreat Recession\u201d of the early 2000s, as Mamdani described the comparison <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/inside-city-hall\/2026\/01\/28\/one-on-one-with-mayor-zohran-mamdani\" target=\"_blank\" rel=\"nofollow noopener\">during a Jan. 28 press conference at City Hall<\/a>.\u00a0<\/p>\n<p>Last year, City Hall approved an over $116 billion budget.<\/p>\n<p>After Mamdani delivered testimony and took questions for over four hours, Hochul\u2019s office said her \u201cposition has not changed\u201d when it comes to opposing new taxes.\u00a0<\/p>\n<p>Mamdani said in a statement Monday that \u201cworking New Yorkers did not create this budget crisis and they should not be the ones to pay for it.\u201d<\/p>\n<p>\u201cAfter years of staggering fiscal mismanagement under the previous administration, our city deserves responsible and collaborative leadership,\u201d he added. \u201cThis is what it looks like to begin a new, productive, and fair relationship between City Hall and Albany \u2014 focused on delivering for working New Yorkers.\u201d<\/p>\n<p>The new deal reflects a decent relationship between the moderate Democratic governor and the democratic socialist mayor. Hochul <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/news\/2025\/09\/15\/hochul-endorses-mamdani-in-nyc-mayor-s-race\" target=\"_blank\" rel=\"nofollow noopener\">endorsed Mamdani<\/a> before he won in November, and Mamdani <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/politics\/2026\/02\/05\/mayor-zohran-mamdani-endorses-gov-kathy-hochul-in-bid-for-reelection-\" target=\"_blank\" rel=\"nofollow noopener\">just backed Hochul<\/a> in her reelection bid, over her progressive would-be primary opponent who later <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/news\/2026\/02\/10\/antonio-delgado-india-walton-new-york-governor-campaign-suspended\" target=\"_blank\" rel=\"nofollow noopener\">dropped out of the race<\/a>.\u00a0<\/p>\n<p>Reports also revealed Mamdani <a href=\"https:\/\/www.nytimes.com\/2026\/02\/13\/nyregion\/mamdani-tax-rich-rally-dsa.html\" target=\"_blank\" rel=\"nofollow noopener\">won\u2019t attend a \u201cTax the Rich\u201d rally<\/a> in Albany on Feb. 25, with sources arguing it\u2019s a nod to Hochul, who already promised financial assistance to the city, including <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/news\/2026\/01\/08\/hochul--mamdani-to-unveil-free-child-care-plan-in-nyc\" target=\"_blank\" rel=\"nofollow noopener\">two years\u2019 worth of a free child care pilot program<\/a> for city programs, a major campaign promise from Mamdani.\u00a0<\/p>\n<p>State sources said the new $1.5 billion in funding could change Hochul\u2019s $260 billion state budget projection <a href=\"https:\/\/ny1.com\/nyc\/all-boroughs\/news\/2026\/01\/16\/new-york-lawmakers-react-to-hochul-s-state-of-the-state\" target=\"_blank\" rel=\"nofollow noopener\">unveiled in January<\/a>, due in what\u2019s known as 30-day budget amendments on Thursday, Jan. 20.<\/p>\n<p>In a statement, Citizens Budget Commission president Andrew Rein called the funding increase \u201cgood news for the city.\u201d\u00a0<\/p>\n<p>\u201cThe $1.5 billion will put a real dent in the City&#8217;s budget gap, which the Mayor said is $7 billion. Governor Hochul is rightly reversing some historical cost-shifts from the State to the City,\u201d Rein said.\u00a0<\/p>\n<p>\u201cMayor Mamdani still has a heavy lift ahead of him to balance the budget,\u201d he added. \u201cAnd while this is a fair thing for the State to do, the recurring support will widen future State budget gaps.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"Gov. Kathy Hochul is giving another $1.5 billion in state funding to New York City, one day before&hellip;\n","protected":false},"author":3,"featured_media":594620,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,13565,17547,7448,43432,405,403,50,5226,5225,5228,17545,43431,5227,80,52,67,586,132,5230,68,2969],"class_list":{"0":"post-594619","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-app-local-state-politics","10":"tag-app-ny-state-of-politics","11":"tag-app-top-stories","12":"tag-bernadette-hogan","13":"tag-new-york","14":"tag-new-york-city","15":"tag-news","16":"tag-newyork","17":"tag-newyorkcity","18":"tag-ny","19":"tag-ny-state-of-politics","20":"tag-ny-state-of-politics-blog","21":"tag-nyc","22":"tag-politics","23":"tag-top-stories","24":"tag-united-states","25":"tag-united-states-of-america","26":"tag-unitedstates","27":"tag-unitedstatesofamerica","28":"tag-us","29":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116081873822901963","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/594619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=594619"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/594619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/594620"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=594619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=594619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=594619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}