AP: Budget official warns taxi case could cost NYC $1B

NYC Wire

NEW YORK (AP) – The mayor’s top budget official warned on Wednesday that a legal challenge to a taxi initiative could deprive the city of $1 billion that’s already built into next year’s budget – a loss that could result in deep cutbacks throughout city government.

“We’re not only destroying the child care system, but we’re going to be destroying vulnerable families,” Democratic Councilwoman Annabel Palma, chair of the General Welfare Committee, told Page.

Read More Here: http://money.msn.com/business-news/article.aspx?feed=AP&date=20120607&id=15198440

Get the Latest Updates --> Sign Up!