News in New York – FY24 Preliminary Budget; State of State; Nurses’ Strike

January 17, 2023

Mayor Adams’ FY24 Preliminary Budget

On Thursday, Mayor Adams released his Preliminary Budget for Fiscal Year 2024. In his speech highlighting several spending areas, the Mayor focused on investing in affordable housing and a safe, cleaner, and greener city. The $102.7 billion balanced budget includes an additional $20 million for the Mayor’s “Housing Our Neighbors” plan, which would assist low-income homeowners with down payments. The Mayor also added $1.8 million to expand the rat mitigation program, $1.6 million to hire Chief Decarbonization Officers agencywide, and $160M in support for schools who have lost funding due to lower enrollment. In the coming weeks, the New York City Council will hold hearings to review the preliminary budget.

Governor Hochul’s 2023 State of the State

Last Tuesday, Governor Hochul delivered her 2023 State of the State in Albany. Governor Hochul focused her speech on public safety and affordable housing. Specifically, she pledged to build 800,000 new homes in New York State in the next 10 years and set forth a New York Housing Compact, consisting of several policy changes. She also stated plans to put more law enforcement and signaled a need to revisit bail reform laws. The Governor’s preliminary budget will be released in the next few weeks.

3-Day Nurses’ Strike Ends

Tentative contract deals have been reached with Mount Sinai Hospital and Montefiore Medical Center, ending a three-day strike at two major New York City Hospitals. Over 7,000 nurses participated in the strike. The tentative contracts include an addition of nurses on short-staffed hospital floors and an increase in pay. Many of the striking nurses noted that nurse-patient ratios were a driving force in their decision to strike.


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