Moody's Downgrades NYC's Financial Outlook
New York City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Moodys Ratings downgrades New York Citys financial outlook, citing large budget gaps and potential bond rating drop. Mayor Mamdani and Comptroller Levine express concerns over property tax increases and dipping into reserves without state support. State bills propose tax hikes on the wealthy and corporations, but Governor Hochul has not yet approved. Experts warn of serious overspending trouble if the city doesnt balance its books soon.
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