Mayor Bill de Blasio warned Tuesday that city agencies will be asked to find at least $1.3 billion in cuts as the coronavirus pandemic slashes tax revenues in the Big Apple.
“It is at least, and I’m underling the words ‘at least,’ $1.3 billion. That number could change at any point in the budget process that’s going to play out over the next four weeks,” the mayor told reporters when asked about the status of his $95.3 billion spending plan for next fiscal year.
“We need to make sure we can protect the resources to fight COVID-19, that is non-debatable at this point,“ he added. “To this hour, we don’t know what’s going to come from Washington in terms of any financial relief.”
De Blasio also said he didn’t believe any layoffs were needed to meet the budget gap.
The news comes after Comptroller Scott Stringer Monday warned that ramifications of mass business shutdowns to help contain the disease could cost the city up to $6.1 billion in tax revenues.
De Blasio’s main budget proposal must be presented to the City Council in April and approved in June.
