The analysis from the Independent Budget Office comes as the mayor warns New Yorkers that spiraling costs from the migrant crisis may impact other city services.
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I'm not going to sugarcoat it. Every service we provide is going to be impacted by the influx of migrants.“This is a national problem,” Adams said, citing various cities that have been providing housing and other services for migrants.He added, “This is unfair to all of our cities to have to go through this without any help from the national government and the state government.”
However, the IBO estimated that the cost of the ongoing migrant crisis will be far less than the $1 billion estimate provided by Adams. Rather, the group’s analysis projects the city will spend $374 million on the migrant crisis by the end of the fiscal year, which ends on June 30. The city will spend an additional $628 million in 2024, according to the IBO.
The IBO’s $2 billion budget surplus forecast is driven by both its economic outlook as well as higher-than-expected city tax revenues during roughly the first two quarters of the current fiscal year beginning in July. Personal and business income tax as well as sales tax were both stronger than expected, according to the IBO.issued last week, Lander’s office projected a surplus of $256 million for the current fiscal year.
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