Capital New York: Bloomberg presents a relatively optimistic budget, with a taxi-revenue catch
Capital New York: Bloomberg presents a relatively optimistic budget, with a taxi-revenue catch
BY DANA RUBINSTEIN AND AZI PAYBARAH
Mayor Michael Bloomberg presented a preliminary budget for the 2013 fiscal year today that is, compared to past budgets, a relatively painless one.
It closes a $2 billion gap without raising taxes or explicitly calling for layoffs, made possible in part by reductions to city-agency budgets and a stabilizing economy. (Bloomberg said the city has regained 65 percent of the private-sector jobs lost during the recession, compared to 36 percent in the rest of the country.)
