NYC budget deficit down from $12 billion to zero: Mayor Mamdani

New York City Mayor Zohran Mamdani on Tuesday said his administration had cut the city's budget deficit to zero. "We inherited a $12 billion budget deficit...after months of painstaking work, that deficit is now zero," Mamdani said in a video. Mamdani further said that he wouldn't tap into the city's 'rainy day fund' to balance the budget.