New York Passes $229 Billion Budget After Lengthy Negotiations

Mayor Eric Adams announced New York City's $106.7 billion budget for 2024 which faces funding shortfalls due to costs from migrants, inflation and labor deals.
Gov. Kathy Hochul's proposal to mandate the creation of 800,000 new homes collapsed, worsening the housing crisis.
Lawmakers agreed to increase the state's minimum wage to $17 per hour and make changes to controversial bail laws.
The budget provides $1 billion in aid for NYC's migrant crisis and funds free meals for school children and pilot free bus routes.
Hochul compromised on charter schools and other issues to push through changes to bail laws, a top priority.