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Would Mamdani Proposal Eliminate NYC's $12B Budget Deficit? Yes, if It's Approved

The plan relies on new tax revenue, reserve draws and pension changes while leaving multibillion-dollar gaps in later years, comptroller Mark Levine said.

Summary by Snopes
The mayor's budget relies on billions in help from New York state.

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Snopes broke the news in United States on Thursday, May 14, 2026.
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