Mayor Mamdani has appointed Richard Lee, one of the City Council's top budget negotiators, as his Department of Finance commissioner. The appointment comes as the mayor and council are working on the city budget for the upcoming fiscal year, a process that has become tense as the city seeks to address a multi-billion dollar budget gap. Lee will replace acting commissioner Jeffrey Shear, who has been in the role since the start of the year. The department oversees city tax laws, collects over $50 billion in annual revenue and manages New York City's property taxes.