NEW YORK (AP) — Mayor Bill de Blasio’s first executive budget is full of new expenditures with little in the way of new savings.
The $73.9 billion proposal is in line with de Blasio’s liberal vision of greater government involvement for the less fortunate.
The budget now will be subject to negotiations with the City Council.
The council is closely allied with the Democratic mayor.
The budget has to be approved by July 1.
De Blasio’s budget reflects the city’s improving fiscal outlook. But he’s warning that there are still some challenges ahead.
His team projects that New York will face a $2 billion structural deficit for the fiscal year that begins in July 2015.