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New York City Council hails final budget after six-month negotiations, highlights Fair Fares expansion and kindergarten savings
Summary
A New York City Council lawmaker said the council’s final budget ends a six-month negotiation and includes record capital and expense funding, an expansion of Fair Fares covering nearly 1.3 million New Yorkers, an expanded rental assistance program, and $1,000 college savings accounts for every public school kindergartner.
A New York City Council lawmaker announced the final budget package after a six-month negotiation, saying the council secured more capital and expense funding than in the body’s history and protected programs for vulnerable New Yorkers.
The lawmaker said the package expands public-transit affordability, housing supports and education investments. “Now, nearly 1.3 million New Yorkers will be eligible for half-price fares for subways and buses,” the lawmaker said, and described a rental assistance program and a legal settlement with the administration that together aim to keep thousands more families in their homes.
The council also included a $1,000 college savings account for every public school kindergartner, which the lawmaker characterized as a nation-leading investment intended to increase college attendance and longer-term earnings for low-income children.
Additional line items listed in the announcement include investments in public safety, food programs, senior services, mental health, swim safety, health care and education. The lawmaker said the budget fully restores funding for parks and cultural institutions and provides the most funding for libraries in council history.
The lawmaker said the council will announce more specific investments in the coming weeks and framed the package as balancing fiscal responsibility with support for New Yorkers who are most in need.
