Mayor Michael R. Bloomberg and City Council Speaker Gifford Miller today announced an agreement on the Fiscal Year (FY) 2006 New York City Budget.  The $50.2 billion budget invests in education, human services, public safety and economic development while reducing taxes and closing what was once an almost $4 billion budget gap.   

"This is a good budget for New York City and I congratulate Speaker Miller and the City Council for their diligence on behalf of and commitment to our City," said Mayor Bloomberg.  "Today's budget agreement makes critical investments in our City's people and infrastructure and clearly demonstrates that the difficult choices, fiscal prudence and sacrifice have paid off.   Crime is down; test scores are up; housing is getting built and jobs are being created.    New York City has come a long way since September 11th and the fiscal crisis that followed.  However, long-term fiscal stability and structural balance remains elusive because of increases in non-discretionary spending. The City still faces significant challenges in the future."

"I'm proud to reach agreement with the Mayor on a responsible budget that protects the priorities of all New York's families and takes the right steps to improving quality of life Citywide," said Speaker Miller.  "While we have a surplus it is important to stay focused on giving our City an unshakable economic foundation.  From the toughest fiscal times in the wake of 9/11 to today, this Council has time and again proven that we can meet that challenge while investing in the future of every New Yorker."