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Zohran Mamdani: “When expenditures increased by $36 billion, New York City…”

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

JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis'

Published January 28, 2026 | Video Starts at 06:19

A period where Andrew Cuomo served as governor for almost the entire duration. State revenue grew by $48 billion. New York City alone generated 64% of that growth, or $31 billion. But When expenditures increased by $36 billion, New York City received only 42%, or $15 billion annually. That is an $8 billion shortfall of what our city was owed. Our city is one of multitudes containing both incredible affluence and tremendous needs. (06:19–06:28)

CLAIM

Asserts that NYC received only 42% of increased expenditures, or $15 billion annually.

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Zohran Mamdani

“New Yorkers contribute 54.5% of state revenue and receive only 40.5% back.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 01:57-02:05
“He budgeted $860 million for cash assistance this fiscal year, but current estimates are 1.6 to $5 billion.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 04:32-04:41
“In fiscal year 2022, New York City sent $68.8 billion in revenue to Albany and received 47.6 billion back.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 05:10-05:20
“State revenue grew by $48 billion. New York City alone generated 64% of that growth, or $31 billion.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 06:09-06:19
“New York City is facing a serious fiscal crisis. There is a massive fiscal deficit in our city's budget to the tune of at least $12 billion.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 00:14-00:25
“The Adams administration dramatically and intentionally understated the problem. The budget gaps are twice as high year after year.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 02:49-02:58
“Mayor Adams underestimated known budget expenses so he could show fiscal year 2026 was balanced.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 02:59-03:06
“These expenses not only totaled nearly $8 billion, they're on an upward trajectory.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 04:02-04:08
“Former Mayor Adams made the repeated deliberate choice to under budget.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 04:26-04:32
“He budgeted $1.47 billion for shelter costs this fiscal year, but current estimates reflect an additional unaccounted for $500 million.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 04:43-04:53
“City hall will do what the law requires. We will deliver a balanced budget over two fiscal years.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 07:07-07:14
“We have requested more time to work on a settlement in the city FEPS case.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 09:46-09:52
“We are going to pursue every single saving and efficiency that we can find.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 10:39-10:44
“We are speaking about a fiscal crisis at the scale greater than the Great Recession.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 11:40-11:45
“We are looking for what New York City is owed.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 12:05-12:08
“We can not only put our city back on firmer financial footing, but also build a stronger city for everyone if the top 1% of New Yorkers pay…”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 13:23-13:36
“We are going to deliver a preliminary budget on February 17.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 16:14-16:19
“A $12 billion fiscal deficit cannot be resolved through efficiencies and savings.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 18:17-18:25
“We are looking at every single dollar that the city spends.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 21:04-21:09
“We are speaking about a gap on an annual basis of about $8 billion as to the difference between what the city contributes to the revenues of…”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 22:05-22:18
“We are not entertaining the idea of cuts [to the NYPD].”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 22:59-23:02
“On day eight of this administration with more than a billion dollars secured towards universal childcare.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 23:53-23:59
“Of the 10 who had died, about six were known to the Department of Homeless Services.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 24:42-24:48
“We need to disband the SRG [Strategic Response Group].”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 28:36-28:41
“We are making clear the extent of, of the fiscal gap of $12 billion.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 29:10-29:15
“We don't believe that there should be a unit that has both counterterrorism responsibilities and responsibilities to responding to protests.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 29:45-29:56
“That will require increased revenue. It will require a new relationship with the state.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 31:33-31:39
“The DOT workers have cleared a total of 3,227 bus stop shelters, which is about 95% of the 3,400 bus stops with shelters.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 32:45-32:56
“This snowstorm has then been followed by the kind of cold that the city has not seen in at least eight years.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 33:31-33:39
“Mayor Adams's administration misled the public about the scale of the fiscal deficit.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 34:14-34:23
“We're talking about a budget gap that eclipses that of the Great Recession.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 34:31-34:35
“It's 300% more than what we saw in pre-Covid years.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 34:35-34:42
“The intent of this cost shifting was not to take care of needy New Yorkers elsewhere. It was in fact to punish [New York] city.”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 35:37-35:44
“A chasm grew so significantly over the course of a decade [due to cost shifting].”
JUST IN: Zohran Mamdani Holds Press Briefing On Former NYC Mayor Eric Adams' Budget 'Crisis' | Uploaded January 28, 2026 | 35:43-36:01