NEW YORK (PIX11) – New York City Mayor Eric Adams is set to reveal the preliminary budget for the 2025 fiscal year on Tuesday.
Adams will present the preliminary budget during a press conference at City Hall at 3 p.m. PIX11 News will livestream the mayor's address on this page.
On Tuesday, Gov. Kathy Hochul revealed a $233 billion state budget proposal for the 2025 fiscal year, which included $2.4 billion to support New York City in handling the migrant crisis.
Last week, Adams announced a series of budget rollbacks on previous high-profile service cuts caused in part by the migrant crisis and expiring federal stimulus aid.
However, Adams said Friday that there's still a $7 billion hole this year -- and not just because of the migrant crisis.
“Stimulus dollars are running out, migrants and asylum seekers coming to town, solving our union contracts, balancing tax receipts,” Adams said. “You look at the complete picture, and it’s almost a perfect storm.”
Ahead of the budget reveal Tuesday, Adams announced the creation of an independent budget advisory panel to help New York City identify ways to save money, protect vital services, and maximize federal and state aid.
Finn Hoogensen is a digital journalist who has covered local news for more than five years. He has been with PIX11 since 2022. See more of his work here.
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