NYC Mayor Announces Cancellation Of Next Round Of Agency Spending Cuts As A Result Of Strong Fiscal Management, Additional Cuts To Asylum Seeker Spending, Better-Than-Expected Economic Performance
– New York City Mayor Eric Adams today announced the cancellation of the Fiscal Year (FY) 2025 Executive Budget Program to Eliminate the Gap (PEG) for city agencies — a direct result of decisive actions early on by the Adams administration to stabilize the budget through continued strong fiscal management, better-than-expected economic performance in 2023 that…