Mayor Eric Adams issued a warning on Saturday that New York City agencies will be forced to reduce their budgets by as much as 15% due to the escalating expenses associated with Biden’s migrant crisis.
All city departments have been instructed to make a 5% budget reduction by November. This reduction will translate to a substantial financial adjustment amounting to several billion dollars from the portion of the budget funded by the city, which is part of Adams’ $107 billion expenditure plan.
However, Adams cautioned that if the city does not receive adequate financial support from the Biden administration or Albany in the early months of the upcoming year, there may be an additional 5% reduction required in both January and April.
“Since the large influx of asylum seekers to our city began last spring, we have warned New Yorkers that every city service could be impacted by this crisis if we did not get the support we needed,” Adams said in a statement.
“Coupling the costs of a national crisis that has fallen onto New York City with COVID funding that is running out and reduced revenue growth, our city’s financial future may be at risk if we do