budget gap

Dallas has ordered three unpaid furlough days for employees due to a deepening budget shortfall. The city is also under a hiring freeze and faces a projected $51 million budget gap.

Minneapolis faces a $30M budget gap, prompting Mayor Jacob Frey to consider cuts to programs, services, and potential job losses to avoid a property tax spike. Frey emphasizes efficiency and prioritizes public safety, housing, and economic development as he prepares to present his budget to the city council in August.

Minneapolis faces a $30 million budget gap for next year, prompting discussions about property tax hikes and cost-cutting measures. Council member Elizabeth Shaffer emphasizes the need for city efficiency and shared financial responsibility, while Mayor Jacob Frey is reviewing department budgets to address the shortfall.

Mayor Zohran Mamdani and Council Speaker Julie Menin, previously at odds over closing New York City's budget gap, have united to push for scaling back a tax credit benefiting millionaires, aiming to generate $1 billion in revenue. Governor Kathy Hochul rejected their proposal, complicating efforts to address the city's fiscal shortfall and creating a new political rift ahead of her reelection.

New York City plans to invest $4 billion in affordable housing through its pension funds. The city faces a $10 billion budget gap next fiscal year due to slowing tax collections and uncertainty over federal funding.