New York State Comptroller Thomas P. DiNapoli released the following statement on the New York City Mayor’s 2024 State of the City address:
“Public safety, affordability, and economic growth must guide future investments for New York, but the city is facing serious challenges, including unsustainable spending on the migrant crisis, growing housing costs and federal pandemic aid coming to an end.
“The city needs federal funding and policy changes to help manage asylum seeker costs. At the same time, the city must work with the state to bring rising housing costs under control, and I commend the Mayor’s proposals to help keep New Yorkers in their homes.
“Going forward, reducing spending will be harder because programs and services that help working families afford the city will likely need to be paid for when federal pandemic aid runs out. While better than projected revenues and city savings initiatives have helped balance the budget through fiscal year 2025, sizable budget gaps exist in the outyears. Finding new ways to reduce spending that avoid hurting city services and limit impacts on the city’s economic recovery will be necessary.”
