An emergency economic plan is set to be unveiled this week as New York City prepares to weather the fiscal storm.
Mayor Mike Bloomberg will announce a plan to cut 2.5 percent from the city’s budget this year and another 5 percent in 2009. That could save an estimated $1.5 billion.
The mayor also wants the City Council to rescind a 7 percent property tax cut.
Unfortunately, these cuts may not be the only things on the drawing board.
The New York Post reported Sunday that the city is also preparing layoff lists, if the economy continues to slip.
Last June, mayoral aides projected the budget gap for fiscal 2010, which starts July 1, 2009, at $2.3 billion.
(Source: MyFoxNY)
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2 Responses
Hey Mr. Maya, what happened to all of those program and initiatives that you started to help small business? What about cutting taxes so small business can afford to rent and do business in New York City?
I know a good place to cut. How about starting with the over abundance of meter maids? Then you can cut out some of those garbage inspectors who give $150 tickets to innocent home owners, who spend the time separating their recyclables, for a coffee cup or a soda can dropped in the wrong garbage by a passer by. Then there are those building inspectors with their little white cars (city owned of course) running around the neighborhood harassing the citizens. YES MR MAYOR THERE IS PLENTY OF ROOM TO CUT IF YOU WANT TO SHRINK THE BUDGET!