# Mamdani’s budget has ballooned to nearly $130M — with only .3% in savings

- URL: https://talkfuse.com/story/mamdanis-budget-has-ballooned-to-nearly-130m-with-only-3-in-savings/
- Published: 2026-11-12T22:12:50+00:00
- Updated: 2026-11-12T22:48:55+00:00
- Original publisher: New York Post (publisher lean: Right)
- Original article: https://nypost.com/2026/11/12/us-news/mamdanis-budget-has-ballooned-to-nearly-130m-with-only-3-in-savings/
- Topics: Software, Technology, World

## Key points

- New York’s revised budget has grown to $129.2 billion.
- Reported cuts total $429 million, or 0.33% of spending.
- The city projects a $6.2 billion shortfall next year.

## Summary

New York Mayor Zohran Mamdani’s revised city budget has risen to $129.2 billion, more than $3 billion above the plan adopted in June. The increase comes as his administration has reported only a small share of the savings it was directed to find, raising questions about how the city will address its financial pressures.

The mid-year update includes $429 million in cuts, about 0.33% of the revised budget, against a target of 2.5% across city agencies. It also adds $3.3 billion in spending, including $1.15 billion from city funds, $1.48 billion in federal money and $635 million from the state; officials cited nearly $1 billion in unexpected tax revenue. The city faces a projected $6.2 billion shortfall next year and about $9 billion over the following two years, while a budget watchdog said the reported savings fall well short of the target.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.