Most of the $12 billion was a bailout from the state according to the video.
Most of the $12 billion was a bailout from the state according to the video.
The article linked above seems to roughly agree:
Earlier this year, Ms. Hochul committed $1.5 billion in state aid for a host of municipal services. The state budget, which has not yet been finalized, is also expected to include a host of policy changes and revenue increases that will funnel another $4 billion to the city over the next two years.
The largest share — about $2.3 billion over two years — is expected to come from the city’s delaying certain pension payments, a change that requires state approval and buy-in from municipal unions.
The mayor and governor also expect another half-billion dollars to flow from the new tax surcharge on second homes worth more than $5 million that Ms. Hochul recently announced. But the city comptroller recently argued that number might be overly optimistic, and New York City’s byzantine property valuation system means that the new tax would come with substantial implementation challenges.
The city is expected to save another $1 billion over two years from several changes, including the state’s expected agreement to delay a class-size mandate in public schools (despite Mr. Mamdani’s support for the mandate as a candidate); more school aid from the state; and the assumption by the state of a larger share of death benefits for families of police officers, firefighters and emergency medical workers.
I bet most of the pension changes are probably for NYPD members.
The NYPD pension provides retirement benefits based on years of service, salary history, and plan type, with average full-career retiree pensions exceeding $100,000 annually
Holy fuck
They get a over $100k USD pension, wtf.
That should be a normal thing not a crazy thing.
thanks for using Leebra!
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In a couple months? Would be curious to see how, anyone have a ELI5 sheet of the changes made?
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