STATEN ISLAND, N.Y. — The City Council released a preliminary budget response on Wednesday which identified $6 billion in resources as an alternative path to Mayor Zohran Mamdani’s proposal to tax wealthy residents in order to close the city’s budget gap.
This proposal would fund the budget without increasing taxes on property owners and renters, reducing funding for critical services, or drawing down the city’s reserves, according to the Council.
The Council’s plan identifies new resources that it argues can be achieved through cost and revenue re-estimates, efficiencies and reforms and additional revenue-raisers without cutting services or staff…