FOR IMMEDIATE RELEASE
June 27, 2006
MAYOR BLOOMBERG AND CITY COUNCIL SPEAKER QUINN REACH AGREEMENT ON FISCAL YEAR 2007 CITY BUDGET
City to Reserve Resources for Long-Term Fiscal Stability and Invest In Critical Services
Mayor Michael R. Bloomberg and City Council Speaker Christine Quinn today announced an agreement on the Fiscal Year (FY) 2007 New York City Budget. The $52.9 billion budget reserves billions of dollars to protect the City’s long-term fiscal stability by establishing a retiree health benefit trust fund, using pay-go capital and restructuring debt to reduce out-year expenses. The FY ‘07 budget protects New Yorkers quality of life by providing resources to put 1,200 new police officers on the street, invests in New York’s public housing and HHC Hospitals, dedicates $6.5 billion in State funds resulting in 66,000 new classroom seats and school construction and renovation and continues the Mayor’s $400 property tax rebate for homeowners.
“This budget not only invests in New York today, but in our future as well,” said Mayor Bloomberg. “I want to thank Speaker Quinn and the Councilmembers’ for their fiscal responsibility and prudence. By reserving one-time resources for the future, we are protecting New Yorkers for years to come. In addition to helping secure our City’s long-term fiscal stability, this year’s budget makes critical investments to continue the record decline in crime and protect our public housing and hospital systems.”
“Working together, the Administration and the Council have made significant strides towards true budget reform,” said Speaker Quinn. “Throughout the past months of negotiations, we have seen a more open, transparent and democratic process that has resulted in a budget that is responsive to the needs of hardworking New Yorkers. I am proud that together we have agreed to remove from the cutting block several vital programs – like libraries, summer jobs and trash pick- up – in addition to taking a number of other significant steps towards ending the budget dance.”
The budget includes new resources for libraries, 18,000 new bullet proof vests for the NYPD over the next two years, summer jobs, and CUNY. The budget also includes funding for the extension of the Number 7 line, capital resources for the development of Bronx Parks, planning and construction of Fresh Kills and Brooklyn Bridge Park and new fire, police and EMS stations.
Stu Loeser / Jordan Barowitz (212) 788-2958
Sandra Mullin / Maria Alvarado (City Council)
View the photos
Watch the video in 56k or 300k