{"id":3151,"date":"2026-06-30T09:42:11","date_gmt":"2026-06-30T13:42:11","guid":{"rendered":"https:\/\/council.nyc.gov\/press\/?p=3151"},"modified":"2026-06-30T16:09:57","modified_gmt":"2026-06-30T20:09:57","slug":"speaker-julie-menin-and-new-york-city-council-announce-agreement-with-mayor-zohran-mamdani-on-fiscal-year-2027-budget","status":"publish","type":"post","link":"https:\/\/council.nyc.gov\/press\/2026\/06\/30\/3151\/","title":{"rendered":"Speaker Julie Menin and New York City Council Announce Agreement with Mayor Zohran Mamdani on Fiscal Year 2027 Budget"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><em>Budget includes historic investment of $1,000 college savings accounts for every public school kindergartner, the largest-ever expansion of Fair Fares, expanded funding for housing vouchers, with investments in parks, libraries, cultural institutions, CUNY, and more<\/em><\/p>\n<p class=\"wp-block-paragraph\"><em>Speaker Menin secures the largest package of capital and expense investments in City Council history<\/em><\/p>\n<p class=\"wp-block-paragraph\"><strong>CITY HALL, NY \u2013<\/strong> Speaker Julie Menin and the New York City Council today announced an agreement with Mayor Zohran Mamdani on a $125.8 billion Fiscal Year (FY) 2027 budget that makes historic investments to lower the cost of living, expand opportunity, and strengthen essential services for New Yorkers while maintaining responsible fiscal stewardship.<\/p>\n<p class=\"wp-block-paragraph\">The FY27 budget includes the largest expense budget and capital commitment in Council history, while making significant investments in affordability, educational opportunity, housing stability, parks, libraries, and cultural institutions. The Council also secured $350 million in additional reserves, strengthening New York City&#8217;s long-term financial stability.<\/p>\n<p class=\"wp-block-paragraph\">\u201cWith this budget, the Council proved that we could responsibly manage the City\u2019s finances while making transformative investments that lower costs for working families, prevent homelessness, expand opportunity for children, and strengthen the services New Yorkers rely on every day,\u201d said <strong>Speaker Julie Menin.<\/strong> \u201cThis budget reflects what the Council has believed from the very beginning: New York City does not have to choose between fiscal responsibility and investing in our communities. I want to thank my Council colleagues for their partnership throughout this process and Mayor Mamdani and his administration for working with us to reach an agreement that delivers meaningful results for New Yorkers.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cOur Administration inherited a budget crisis built on years of undercounting the true cost of running our city. We made a different choice. We balanced this budget without resorting to austerity. We protected the services New Yorkers rely on, while restoring honesty to the City\u2019s finances. We accelerated the affordability agenda by investing in housing, mental health services, parks, libraries, and students of all ages. This agreement proves that fiscal responsibility and public excellence can go hand in hand,\u201d said <strong>Mayor Zohran Mamdani<\/strong>. \u201cNew Yorkers deserve a government that works as hard as they do \u2013 and a government as careful with their money as they are. I want to thank Speaker Julie Menin and the City Council for their partnership in getting this budget across the finish line.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cThroughout the budget process, the City Council remained steadfast in identifying savings and new revenue opportunities, maintaining a disciplined approach to fiscal management in the face of a budget deficit and an ongoing affordability crisis,\u201d said <strong>Council Member Linda Lee, Chair of the Committee on Finance<\/strong>. \u201cAs Finance Chair, I have witnessed this Council fight tirelessly to deliver a budget that not only protects the City&#8217;s long-term fiscal health but also makes meaningful investments in the cornerstones and lifelines of our communities. Through the restoration of key programs New Yorkers depend on, this budget demonstrates that fiscal responsibility and compassionate governance are not competing priorities. I thank Speaker Menin for her leadership in this budget negotiation process and the advocacy of my colleagues on the Council to help make a difference in the lives of families across our city.\u201d<\/p>\n<p class=\"wp-block-paragraph\">From the beginning of this year\u2019s budget process, the Council maintained that the City\u2019s budget gap was manageable, and that New York could avoid raising property taxes, raiding reserves, or making unnecessary cuts to essential services. Instead, the Council secured targeted investments that help working families, protect vulnerable New Yorkers, and strengthen the City\u2019s long-term fiscal health.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Among the Council\u2019s signature accomplishments in the FY27 budget are:<\/strong><\/p>\n<p class=\"wp-block-paragraph\"><strong>Expanding Opportunity and Closing the Wealth Gap<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The budget secures funding to start a <strong>$1,000<\/strong> college savings account for every public school kindergartner, an historic tenfold expansion of NYC Kids RISE. In addition to the Council\u2019s initiatives that address the immediate affordability crisis, this <strong>$53 million<\/strong> investment helps families build wealth, expand educational opportunity, and increase wages for the next generation.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Expanding Fair Fares and Other Transit Affordability Programs<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The Council secured<strong> $54 million<\/strong> to fund a major Fair Fares expansion, in addition to the $120.6 million previously allocated. Eligibility will increase to<strong> 200% <\/strong>of the federal poverty level, up from 150% \u2014 the largest increase since the program began. An additional 340,000 low-income residents will soon have access to half-price subway, bus, and paratransit fares, raising total eligibility to approximately 1.3 million New Yorkers. The budget also includes <strong>$700,000<\/strong> for a pilot program to provide OMNY Cards to CUNY students and additional funding for current programs which provide similar support.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Preventing Homelessness<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The agreement includes <strong>$175 million<\/strong> in FY27 and $125 million baselined, starting in FY28, to expand access to housing vouchers for New Yorkers facing eviction and experiencing homelessness not currently eligible for CityFHEPS. The Council has long maintained that preventing homelessness is both more humane and more fiscally responsible than managing homelessness after families lose housing. The agreement also settles a lawsuit challenging CityFHEPS reform laws passed by the Council and includes a commitment to pass legislation that creates a housing voucher structure with expanded eligibility criteria and cost-containment controls.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Restoring Funding for Cultural Institutions, Libraries, and Parks<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The budget adds $79.1 million to fully restore funding for parks, libraries, and cultural institutions, ensuring New Yorkers continue to have access to the essential facilities that serve as anchors in communities across the five boroughs. This funding includes:<\/p>\n<ul class=\"wp-block-list\">\n<li>Parks Enforcement Patrol, Green Thumb and, Stump Removal: $14.41 million<\/li>\n<li>Library Support and Restoration: $34.7 million<\/li>\n<li>Cultural Community Support Restoration: $30 million<\/li>\n<\/ul>\n<p class=\"wp-block-paragraph\"><strong>Protecting Immigrant New Yorkers<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The budget fully restores $86.4 million in funding for a range of services to support immigration legal services providers, help cover their loss of federal grants, and maintain the city\u2019s immigration legal services infrastructure that the Council built last year with city agencies.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Delivering Transparency and Accountability Ahead of 25th Anniversary of 9\/11<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The Council secured $6.25 million for the Department of Investigation (DOI), including $4 million to complete and release its long-awaited report on 9\/11 toxins. The funding will help finally deliver transparency and accountability for victims\u2019 families, survivors, first responders, and all those seeking answers on what the City knew and when. Additionally, the Council secured $1 million for 9\/11-related field trips for students.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Additional Council Priorities<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The agreement also includes significant investments in:<\/p>\n<ul class=\"wp-block-list\">\n<li>Student Support Programs:\n<ul>\n<li>Mental Health Continuum<\/li>\n<\/ul>\n<ul>\n<li>Immigrant Family Engagement<\/li>\n<\/ul>\n<ul>\n<li>Restorative Justice<\/li>\n<\/ul>\n<ul>\n<li>Sensory Exploration, Education, and Discovery (SEED)<\/li>\n<\/ul>\n<ul>\n<li>Student Success Centers<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>PSAL Athletic Trainers: $360,000<\/li>\n<\/ul>\n<\/li>\n<li>City University of New York (CUNY) Programs:\n<ul>\n<li>CUNY ASAP: $4.5 million<\/li>\n<\/ul>\n<ul>\n<li>CUNY Accelerate, Complete, and Engage (ACE): $9.1 million<\/li>\n<\/ul>\n<ul>\n<li>CUNY Disability Services: $800,000<\/li>\n<\/ul>\n<ul>\n<li>CUNY Reconnect: $3 million<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Early Childcare Workforce Development: $2.5 million<\/li>\n<\/ul>\n<\/li>\n<li>Mental Health Program Investments:\n<ul>\n<li>Assertive Community Treatment (ACT) Expansion: $4.5 million<\/li>\n<\/ul>\n<ul>\n<li>Intensive Mobile Treatment (IMT) Expansion: $11 million<\/li>\n<\/ul>\n<ul>\n<li>Crisis Respite Centers: $2.5 million<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Mobile Treatment Step Down Program: $4.5 million<\/li>\n<\/ul>\n<\/li>\n<li>Older Adult Investments:\n<ul>\n<li>Home-Delivered Meals Reimbursement Rate Increase and Expansion: $12 million<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Case Management Restoration: $2 million<\/li>\n<\/ul>\n<\/li>\n<li>Supportive Housing Repairs: $5.4 million<\/li>\n<li>Supportive Housing Preservation: $4.2 million<\/li>\n<li>NYCHA Vacant Unit Readiness: $7.5 million<\/li>\n<li>Homeowner Support Investments:\n<ul>\n<li>Homeowner Help Desk Expansion: $500,000<\/li>\n<\/ul>\n<ul>\n<li>Homeowner Stabilization Services Initiative, Including Estate Planning Assistance, Foreclosure Prevention, and Deed Theft and Pre-Purchase Counseling: $5.15 million<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Heat Pumps in Environmental Justice Communities: $2 million<\/li>\n<\/ul>\n<\/li>\n<li>Community Food Connection Program Enhancement: $5 million<\/li>\n<li>Wave Makers Program to Provide Free Swimming Instruction: $1.5 million<\/li>\n<li>Deliveristas Support Initiative: $2.1 million<\/li>\n<li>DSNY Lot Cleaning Staff Expansion: $1.2 million<\/li>\n<li>Housing Stability Microgrants for Domestic Violence Survivors: $1.4 million\n<ul class=\"wp-block-list\">\n<li>Increased funding for Domestic Violence and Cybercrimes in Staten Island: $366,000<\/li>\n<\/ul>\n<\/li>\n<li>Commission on Racial Equity (CORE) Enhancement: $2.1 million<\/li>\n<li>City Commission on Human Rights (CCHR) Enhancement: $1.6 million<\/li>\n<li>Pet Food Pantry for Low-Income New Yorkers and Free or Low-Cost Spay and Neuter Services: $750,000<\/li>\n<li>Maternity Infant Reproduction Program Restoration: $583,000<\/li>\n<li>DVS Veterans Outreach and Services Expansion: $450,000<\/li>\n<\/ul>\n<p class=\"wp-block-paragraph\">The Council will formally adopt the Fiscal Year 2027 Budget at its Stated Meeting on Tuesday, June 30. Additional details on agency funding and budget initiatives will be released following budget adoption.<\/p>\n<p class=\"wp-block-paragraph\">\u201cI\u2019m proud to be part of a Council that fought for a deal that reflects the needs of our communities. New Yorkers are getting squeezed from every direction, whether it\u2019s paying rent or the cost of just getting to work,\u201d said <strong>Majority Leader Shaun Abreu<\/strong>. \u201cWe\u2019ve built a budget that takes that pressure seriously. Expanding access to housing vouchers protects thousands of families from being one bad month away from the shelter system. Expanding Fair Fares eligibility and securing funding for OMNY cards for CUNY students means the cost of riding the subway won\u2019t stand between someone and their job or their degree. Investing in long-promised bus and bike lanes means delivering safer streets and faster commutes. Funding for on-street trash containers will transform our neighborhoods and protect our public spaces. New Yorkers deserve a government that fights for them, and this budget encompasses some real wins.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cThis budget reflects what New Yorkers have been asking for: a government that invests in people while remaining fiscally responsible,&#8221; said <strong>Majority Whip Kamillah Hanks<\/strong>. &#8220;We proved that we can expand opportunity, make our city more affordable, strengthen our neighborhoods, and support working families without raising property taxes or sacrificing essential services. From increasing access to affordable housing and public transit, to restoring funding for parks, libraries, and public safety initiatives, this agreement delivers meaningful investments that improve quality of life in every borough. As Majority Whip, I was proud to help advance a budget that balances today\u2019s needs with tomorrow\u2019s responsibilities and ensures New York City remains a place where families can thrive.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cThis budget reflects our shared commitment to the issues that matter most to families across the Bronx and our entire city,\u201d said <strong>Council Member Eric Dinowitz<\/strong>. \u201cWe funded NYC RISE, early childhood education, and expanded support for students with disabilities from 2K all the way through CUNY. My colleagues and I funded and baselined critical parks funding to ensure that our parks remain oases for all New Yorkers. In this year\u2019s budget, we are increasing funding for the Commission on Human Rights and the city\u2019s ability to confront housing discrimination. I am proud to work alongside Speaker Julie Menin to deliver a balanced budget in the midst of fiscal constraints to preserve and expand upon our strong social safety net for the millions of New Yorkers who call our city home.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cOur City Council, led by Speaker Menin and Finance Chair Lee, and Mayor Mamdani delivered a budget that fights for New Yorkers in the midst of an affordability crisis,\u201d said <strong>Council Member Shekar Krishnan<\/strong>. \u201cTogether, we secured a budget that ensures New Yorkers have a roof over their heads, enjoy our parks and public spaces, and feel confident that our city government is protecting workers.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cThis year\u2019s budget demonstrates a commitment to equity, affordability, and community. I\u2019m grateful to Speaker Menin and Mayor Mamdani for working together to secure historic victories: from historic investments in DCWP, to expanding access to housing vouchers, getting vacant NYCHA and supportive housing ready to rent for families in need, funding Fair Fares, to early childhood learning and after school programs for communities across New York City,\u201d said <strong>Council Member Harvey Epstein<\/strong>. \u201cI am particularly proud of the investment in the Workers Justice Organizing and Education Initiative, that will revolutionize worker protection and economic stability for non-traditional workers. Additionally, we secured funding for pet food pantries and spay and neuter services for pets across the five boroughs. This budget reflects what we can accomplish when we work together to protect essential services and invest in the well-being of all New Yorkers.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cThis budget reflects the priorities that matter most to East Side families and New Yorkers across our City: early childhood education, our green spaces and parks workers, seven-day public library service, and solutions to our housing crisis,\u201d said <strong>Council Member Virginia Maloney<\/strong>. \u201cWe expanded access to housing vouchers to help more New Yorkers find stable homes, funded NYC Kids RISE so more students can build a path to college, and invested $30 million in the cultural institutions that make New York such a special place to call home. I\u2019m proud to have worked alongside Speaker Julie Menin and my colleagues to pass a budget that protects essential services, strengthens our communities, and keeps New York moving forward.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cToday\u2019s FY27 Adopted Budget represents a historic win for vulnerable New Yorkers: expanding access to housing vouchers responsibly, controlling costs, and putting the City on a stronger path away from costly shelter reliance and toward permanent homes,\u201d said <strong>Council Member Pierina Sanchez<\/strong>. \u201cWith a cumulative $300 million committed across the FY27 and FY28 City Budgets, we will deliver relief to tens of thousands of New Yorkers. I am deeply grateful to Speaker Julie Menin, my colleagues in the Progressive Caucus, advocates, and the Mayor for staying at the table and getting this to the finish line. I am also thrilled that Street Vending Reform implementation will receive more than $20 million to build vendor capacity, support fair enforcement, and cover operational costs for licensing, permits, and inspections. While I am still reviewing the full budget, it does fall short on additional Progressive Caucus priorities to support vulnerable New Yorkers, including the Rentals Within Reach campaign. I look forward to continuing to build power and secure more wins for the New Yorkers who need us most.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cGood government meets people where they are, and this budget does exactly that,\u201d said <strong>Council Member Shanel Thomas-Henry. \u201c<\/strong>By expanding access to rental assistance and making historic investments to build and preserve affordable housing, while supporting small businesses, street vendors, and our children&#8217;s future, the FY27 Budget delivers meaningful investments that strengthen our neighborhoods and create more opportunity for every New Yorker.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cAs Chair of the City Council\u2019s Health Committee, I\u2019m proud that this year\u2019s budget makes critical investments in the health and well-being of all New Yorkers,\u201d said <strong>Council Member Lynn Schulman<\/strong>. \u201cSpeaker Julie Menin&#8217;s leadership has led to one of the most robust city budgets we have ever had, with numerous budget items baselined for the very first time. This budget reflects our values of equity, dignity, and care. I am also very proud that this budget invests in the spay\/neuter pilot initiative I introduced last year and provides for a pet pantry program. These investments will save lives, reduce harm, and build a stronger, healthier city for everyone.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cWhen I became Chair of the Committee on Aging, I made a promise: our seniors would never be an afterthought,\u201d said <strong>Council Member Susan Zhuang<\/strong>. \u201cI\u2019m glad to see Meals on Wheels getting the funding to expand for those who need it most. As a mother of two, I fought for the places my family and yours call a second home: our parks, now safer with more PEP officers. These are the backyards of New York, and we just made them stronger. And with expanded funding for our libraries, our kids will have a place to read seven days a week. For working families fighting to keep a roof overhead, we expanded access to housing vouchers, because no one should lose their home in the city they helped build. My deepest thanks to Speaker Julie Menin, who championed every one of these fights alongside us. I will keep fighting for the people of District 43 and all of New York City.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cI applaud Speaker Julie Menin and Finance Chair Linda Lee for securing critical investments that help New Yorkers remain in their homes and withstand the rising cost of living,&#8221; said <strong>Council Member Farah N. Louis<\/strong>. &#8220;At a time when families are facing mounting financial pressures, the Council delivered $17.1 million to strengthen affordable and supportive housing, $5.65 million to help homeowners avoid foreclosure, prevent deed theft, and preserve generational wealth, $14 million to expand services that allow older adults to age with dignity in their communities, and an additional $2.1 million for the Commission on Racial Equity. These are meaningful investments that will provide stability for working families, protect vulnerable New Yorkers, and build stronger, more equitable communities across our city.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cThis was a real negotiation, and at times it was tough between the Mayor and the Council,\u201d said <strong>Council Member Mercedes Narcisse<\/strong>. \u201cWe didn\u2019t back down from the priorities that matter to New Yorkers. In the end we came together, and we\u2019re proud to pass an on-time budget that works for the people of this city.\u201d<\/p>\n<p class=\"has-text-align-center wp-block-paragraph\">###<\/p>\n","protected":false},"excerpt":{"rendered":"<p><em>Budget includes historic investment of $1,000 college savings accounts for every public school kindergartner, the largest-ever expansion of Fair Fares, expanded funding for housing vouchers, with investments in parks, libraries, cultural institutions, CUNY, and more<\/em><\/p>\n<p><em>Speaker Menin secures the largest package of capital and expense investments in City Council history<\/em><\/p>\n<p><strong>CITY HALL, NY \u2013<\/strong> Speaker Julie Menin and the New York City Council today announced an agreement with Mayor Zohran Mamdani on a $125.8 billion Fiscal Year (FY) 2027 budget that makes historic investments to lower the cost of living, expand opportunity, and strengthen essential services for New Yorkers while maintaining responsible fiscal stewardship.<\/p>\n<p>&#8230;<\/p>\n<p><strong><small><a href=\"https:\/\/council.nyc.gov\/press\/2026\/06\/30\/3151\/\">READ MORE<\/a><\/small><\/strong><\/p>\n","protected":false},"author":219,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3151","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/posts\/3151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/users\/219"}],"replies":[{"embeddable":true,"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/comments?post=3151"}],"version-history":[{"count":7,"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/posts\/3151\/revisions"}],"predecessor-version":[{"id":3165,"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/posts\/3151\/revisions\/3165"}],"wp:attachment":[{"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/media?parent=3151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/categories?post=3151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/council.nyc.gov\/press\/wp-json\/wp\/v2\/tags?post=3151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}