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Story summary
- New York Governor Kathy Hochul announced a $1.5 billion allocation to New York City to assist Mayor Zohran Mamdani with budget shortfall.
- The package includes $1 billion for the year and $500 million for the next.
- Mamdani reported a $12 billion gap, later revised to $5 billion due to unaccounted tax revenue.
- Hochul resists a tax increase on high earners as she nears re-election.
- Both leaders emphasize collaboration to support families.
