Mayor Bill de Blasio warned Monday night that all city agencies will be seeing funding cuts on anything unrelated to battling the coronavirus pandemic as the city struggles with mounting bills and falling tax revenues.
“Every agency will be asked to help,” de Blasio told reporters during a City Hall press conference. “We have to make these cuts in light of an ever-worsening budget situation”
The news comes after Comptroller Scott Stringer earlier 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.
“When you really total up the impact of this crisis, it will far surpass the Great Recession and it will look closer to the Great Depression in terms of the shock to the economy,” he said.
De Blasio’s main budget proposal must be presented to the City Council in April.
