New York City Reaches $125.8 Billion Budget Agreement, Including $175 Million for Rental Assistance

After days of negotiations, New York City Mayor Zohran Mamdani and City Council Speaker Julie Menin announced an agreement on a $125.8 billion final city budget.

The budget allocates $175 million for the city's rental assistance program and $1,000 per child for college savings accounts for every public pre-K student. An additional $54 million was allocated to the Fair Fares public transportation discount program.