Zohran Mamdani’s grand plan to raid NYC’s rainy day fund could be blocked as comptroller makes move

Source: New York Post

City Comptroller Mark Levine proposed new rules to set limits on dipping into New York’s “rainy day” fund — a move that would block Mayor Zohran Mamdani’s plan to raid the dough to cover a $5. 4 billion budget gap. The comptroller released a report on Thursday recommending several guidelines for the city’s Revenue Stabilization Fund that would require the account stay at a minimum of 10% of the city’s tax revenues.