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De Blasio to unveil first budget, with funds for pre-K and teacher contract

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NEW YORK (AP) — New York City Mayor Bill de Blasio is set to unveil his first executive budget proposal.

De Blasio, the first Democratic mayor in a generation, on Thursday will outline his vision for a municipal budget that will exceed $73 billion.

He released his preliminary proposal in February. The city council countered with its vision last month.

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Once the mayor’s revised budget is released, the two sides must strike a deal before the next fiscal year begins July 1.

The new budget will reflect several new developments, including the injection of $300 million of state money to fund pre-kindergarten and the nine-year, $5.5 billion teachers union contract.

More than 150 unions are still working on expired contracts.

The budget is not expected to contain any layoffs or significant service cuts.