De Blasio: NYC Budget Rosier Than Thought


Mayor Bill de Blasio said that the city’s fiscal fortunes are rosier than imagined when he first presented his 2015 budget in July.

His administration presented its mid-year budget modification on Tuesday and it called for smaller deficits and larger-than-expected savings and tax revenues. The long-term debt is $1.1 billion less than when the current budget took effect July 1, or about $35 billion. That savings will be spread over the next four years.