New York City Council Approves the City's Budget

The New York City Council officially voted on Sunday to approve the city's budget for the 2025 fiscal year. The budget passed by a vote of 46 to 3. Last Friday, Mayor Eric Adams and Council Speaker Adrienne Adams announced they had reached a handshake deal on a $112 billion spending plan. The agreement comes after weeks of negotiations between both sides of City Hall over restoring planned cuts.

The budget restores $100 million in funding for early childhood development programs, and returns seven-day service and $58 million to city libraries, as well as $53 million to cultural institutions.

The deal also includes $2 billion towards housing, with $500 million for the city's rental assistance program known as CityFHEPS. The changes take effect today.

You can read more about it on the NYCETC website - READ NYCETC'S UPDATE HERE