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Zohran Mamdani: “This is a $125.8 billion budget for fiscal year 2027.”

Featuring: Zohran Mamdani, Democratic | Mayor of New York City

Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget

Published June 30, 2026 | Video Starts at 04:29

I've spoken at great length about building a new culture of government excellence. I am proud that this budget reflects that very commitment. This is a $125.8 billion budget for fiscal year 2027. It makes historic investments in affordable housing by expanding rental assistance and creating a new $175 million housing voucher program for New Yorkers in need. (04:29–04:35)

CLAIM

Asserts that the budget for fiscal year 2027 is $125.8 billion.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Zohran Mamdani

“Our city was reckoning with a $12 billion deficit, a fiscal crisis larger than any since the Great Recession.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 02:14-02:22
“This will be the nation's largest universal college savings program.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 05:01-05:15
“We presented an executive budget that brought that $12 billion gap down to zero.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 02:39-02:44
“We balanced the budget without slashing the services that New Yorkers rely on.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 02:49-02:53
“We raise taxes on the wealthiest New Yorkers instead of taking more from those with the least.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 03:29-03:35
“The council has reached a transformative agreement on CityFEPS with the administration.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 03:58-04:10
“We will invest $10 million in each of the next three fiscal years to create a cultural stability fund.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 04:26-04:30
“The new bill creates a fiscally responsible structure for housing vouchers.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 04:34-04:45
“It makes historic investments in affordable housing by expanding rental assistance and creating a new $175 million housing voucher program.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 04:34-04:43
“We are enhancing a program called NYC Kids Rise that will provide a college savings account with $1,000 to every public school…”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 05:01-05:15
“We are making public transit more affordable for low income New Yorkers by increasing the baseline for fare fares by $54 million.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 05:15-05:23
“We are committing more than $34 million to create a public portal that will finally release documents from across city government related to…”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 05:32-05:44
“We are adding $350 million to the city's General Reserve.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 05:32-05:44
“The NYPD headcount is kept at the originally authorized 35,000.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 23:53-24:07
“We announced today a $175 million investment into helping [needy New Yorkers] stay in their homes.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 24:46-24:55
“We will send all eligible nonprofits the 50% advance payments that would put us in full compliance with the council law.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 25:45-25:52
“We are resolving [a lawsuit] with a commitment not only to the intent of the legislation, but also the fiscal responsibility.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 27:12-27:20
“The number one crisis New Yorkers are facing is the cost of living.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 27:29-27:32
“We’ve expanded eligibility for fair Fares to residents earning up to 200% of the federal poverty level.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 30:27-30:32
“This is the largest expansion of fair Fares in council history.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 30:27-30:32
“We raise this Fair Fare's eligibility to a historic amount.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 30:27-30:32
“We are fully committed to delivering buses that are not only fast, but also free.”
Mayor Mamdani Announces Handshake Agreement on Fiscal Year 2027 Budget | Uploaded June 30, 2026 | 30:31-30:38