WASHINGTON, May 16 -- New York City Mayor Zohran Kwame Mamdani released a balanced $124.7 billion executive budget for fiscal 2027 during a presentation at City Hall. By securing a collaborative partnership with the state government to gain $4 billion in direct aid and mandate flexibilities, Mamdani completely eliminated an inherited $12 billion deficit without slashing municipal services or raising property taxes.

The comprehensive spending plan introduces a $500 million pied-a-te . . .

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