Don’t wait on Albany for revenue options
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By Winston Fisher
Published on May 7, 2026.
The state budget is late and it seems that New York City's Mayor Mamdani will not receive any help from Albany to close the city's $6 billion deficit. Instead, Center for an Urban Future suggests that the city could generate over $1 billion in new revenue annually with expanding parking meters. This could be done with just 25% of existing free street parking spaces, generating $1.2 billion annually, improving turnover for local businesses and reducing congestion from cruising. The mayor should also take steps to prevent the city from coming up empty due to the expansion of autonomous vehicles into New York. These revenue options would help close this year's budget gap and put the city in a stronger position to weather fiscal and economic challenges ahead.
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