De Blasio, City Council Agree On $89 Billion Budget
NEW YORK (CBSNewYork) -- Mayor Bill de Blasio and City Council Speaker Corey Johnson announced an $89 billion budget deal on Monday.
The plan includes $106 million to fund subsidized MetroCards for low-income New Yorkers. Those who qualify will get a 50 percent discount.
It also incudes a $150 million capital budget spending to make schools more accessible for disabled students and $125 million to be set aside for financial reserves.
"This council has been very focused, this year and in previous years, adding to reserves and making sure the city was protected for the long run," de Blasio said Monday. "That is the mark of smart, thoughtful government."
The new budget agreement is nearly three weeks early. It had been due on July 1.
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