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Mamdani endorses Hochul for reelection
FOX 5 NY's political reporter Morgan McKay breaks it down.
NEW YORK - New York Governor Kathy Hochul and New York City Mayor Zohran Mamdani announced that the state will allocate an additional $1.5 billion over two years to help the city address ongoing fiscal challenges.
What we know:
The funding includes $1 billion in the city’s fiscal year 2026 budget and $510 million in fiscal year 2027, with $510 million of the total set as recurring support, according to the governor’s office.
By the numbers:
State officials said the recurring funding will cover costs that shifted from the state to New York City under prior administrations.
Youth programming
That includes about $300 million for youth programming, $150 million through the restoration of sales tax receipts that would otherwise have been retained by the state, and $60 million for public health.
New York Governor Kathy Hochul and New York City Mayor Zohran Mamdani address the crowd at an event announcing expansions for free and affordable childcare programs in New York City and across the state of New York, held at the Flatbush Branch YMCA i …
The remaining $500 million will go toward shared priorities to be determined in future discussions between the state and the city.
"A strong New York City means a stronger New York State. This investment protects services and puts the city on stable financial footing," Hochul said in a statement. "New Yorkers expect the state and the city to work together, and I’m proud to partner with the mayor to deliver for working families."
Free child care for toddlers? What to know about NYC’s new '2-Care' program
The plan would guarantee access to pre-K for every four-year-old by the 2028-29 school year, including in districts that currently lack programs. See details on the proposal here.
NYC budget crisis
Mamdani said working New Yorkers should not bear the burden of the city’s budget crisis.
"After years of staggering fiscal mismanagement under the previous administration, our city deserves responsible and collaborative leadership," Mamdani said in a statement. "This is what it looks like to begin a new, productive and fair relationship between City Hall and Albany — focused on delivering for working New Yorkers."
Hochul has increased state support for New York City each year since taking office, according to her administration. The latest investment builds on her recent commitment to expand universal child care in the city.
NYC budget gap
What's next:
In a statement, the mayor said the city still faces a $5.5 billion budget gap and that he is committed to closing it by taxing the wealthy and restructuring the fiscal relationship between Albany and New York City.
Both leaders said the additional state funding is aimed at restoring fiscal stability and helping the city move toward a balanced budget.
The Source: This report is based on information from New York Gov. Kathy Hochul.