The budget should be a moral document that lays out the priorities of a government and its leaders. Thanks to the economic crisis that has stemmed from COVID-19, our city faces the most dire revenue forecasts in a generation. We must come together to ensure that all New Yorkers contribute what they can and that every revenue option is explored.
At the same time, even with our revenue challenges, New York City’s annual budget is larger than that of most states. Our spending has a big impact and can further important social and economic goals. We must maximize how we spend the money we do have to ensure all New Yorkers can live in this city with dignity.
Rethinking our revenue strategies calls us to come together and ask the wealthiest New Yorkers to step up and contribute what they can. We can generate new money by leveraging city assets that businesses want to access—from our rooftops for telecommunications to our world-class workforce for industry. And finally, we will deploy the money we already spend—from school construction to flood protection—to create jobs, stimulate our economy, and increase equity and access.