NYC Mayor Zohran Mamdani, Gov. Kathy Hochul announce $4 billion in new state cash to city

Josephine Stratman, New York Daily News on May 12, 2026

By clicking submit, I authorize Arcamax and its affiliates to: (1) use, sell, and share my information for marketing purposes, including cross-context behavioral advertising, as described in our Privacy Policy , (2) add to information that I provide with other information like interests inferred from web page views, or data lawfully obtained from data brokers, such as past purchase or location data, or publicly available data, (3) contact me or enable others to contact me by email or other means with offers for different types of goods and services, and (4) retain my information while I am engaging with marketing messages that I receive and for a reasonable amount of time thereafter. I understand I can opt out at any time through an email that I receive, or by clicking here

NEW YORK — Mayor Zohran Mamdani and Gov. Kathy Hochul announced Tuesday an additional $4 billion in state cash flowing to the five boroughs, ahead of the mayor’s release of his executive budget proposal.

The budget plan was originally due May 1, but that deadline was pushed back due to state budget delays.

The officials did not include details about where the new cash was going, although the governor has expressed willingness to fork over more in educational aid.

Mamdani has lobbied the state for more aid over the past several months, including by calling a fiscal crisis and declaring the city would be facing a whopping $12 billion budget gap. That estimated budget gap shrank weeks later to $7 billion, then again to $5.4 billion.

“For years, the relationship between City Hall and Albany has been defined by dysfunction and infighting,” Mamdani said in a statement. “Governor Hochul and I, however, share a belief that government works best when we work together on behalf of the people we serve. We have partnered through every step of this process to protect the fiscal health of our city.”

In his first budget proposal, the mayor put forward a property tax increase as a means to close the remaining gap — a politically unpopular opinion requiring council approval that was almost guaranteed to fail.

Hochul has stayed resistant to Mamdani’s calls for increased taxes on the wealthiest city residents and corporations.

The governor said the total $8 billion in state aid over two fiscal years is directed to childcare, education, public safety and infrastructure.

“This is what a results-driven, responsible partnership looks like and I’m proud to work with Mayor Mamdani to deliver for working New Yorkers,” Hochul said in a statement.