NYC Passes $101 Billion Budget

The City Council has approved a $101 billion budget, the largest in the city’s history.

Tax revenue collections were up $2 billion. That’s allowing the city to expand the earned income tax credit and add money to the rainy day fund.

There’s also another $90 million for the NYPD. However, money for schools has been cut because of a reduction in student enrollment.

“We are always adapting to student and community needs, and my administration is dedicated to increasing funding this fall if student enrollment rebounds,” Mayor Adams said.

Photo Credit: Getty Images

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