The budget was balanced with significant help from the state, including an additional $500 million in yearly revenue from the promised pied-à-terre tax on luxury second homes and $2.3 billion in savings by deferring pension fund payments

May 18 (Reuters) - Zohran Mamdani met JPMorgan Chase Chief Executive Jamie Dimon at the bank's new headquarters on Monday, weeks after the New York City mayor drew backlash for his plans to tax the rich.

Citing affordable housing as New York City's number one crisis, Mayor Zohran Mamdani announced a plan to cut red tape and make it easier for New Yorkers to find a home.

NYC Mayor Zohran Mamdani faces criticism over plans to phase out gifted and talented programs, with critics warning of declining academic standards.

Mayor Zohran Mamdani and New York City Emergency Management activated the City's Heat Emergency Plan. Heat index forecasts are expected to reach as high as 96 degrees in some parts of the city.

Mayor Zohran Mamdani is set to officially scrap his plans to raise property taxes on New York City homeowners, according to a City Hall source who is familiar with the mayor’s strategy on how to close the city’s $5.

The revised $124.5 billion spending plan includes a number of controversial measures to balance the city’s budget as required by law.

Mayor Zohran Mamdani has more explicitly attempted to address specific concerns of Black New Yorkers with his policy agenda, but some remain wary.