Call Us → 212-616-5810

Brooklyn: Mayor against spending surplus

Brooklyn: Mayor against spending surplus

New York Times 11/3/2006

Mayor Michael R. Bloomberg rejected suggestions yesterday that the city spend part of a newly projected surplus of $1.9 billion this fiscal year. The city’s financial forecast was revised on Wednesday because tax revenues have been higher than expected. Councilman Michael E. McMahon of Staten Island urged the mayor yesterday to use the surplus to rescind part of a 2002 property tax increase, while Directions for Our Youth, a nonprofit group, urged more youth programs. “We have to make sure that we have a cushion,” the mayor said.