Back to today’s briefing

Story perspectives

NYC Comptroller Proposes Rules to Safeguard Rainy Day Fund

4/10/2026

46 4 Full Breakdown

Summary

Story summary

New York City Comptroller Mark Levine proposed rules to limit access to the rainy day fund.
The plan keeps the fund at 10% of tax revenues and limits withdrawals to compelling fiscal needs.
Mayor Zohran Mamdani has threatened to withdraw up to 50% of the fund and raise property taxes if wealthy tax increases are not approved.
The City Council, led by Speaker Menin, opposes raiding the fund and is reviewing Levine's proposal.

1 of 1

Story summary

New York City Comptroller Mark Levine proposed rules to limit access to the rainy day fund.
The plan keeps the fund at 10% of tax revenues and limits withdrawals to compelling fiscal needs.
Mayor Zohran Mamdani has threatened to withdraw up to 50% of the fund and raise property taxes if wealthy tax increases are not approved.
The City Council, led by Speaker Menin, opposes raiding the fund and is reviewing Levine's proposal.