$98.7 Billion recovery budget to drive NYC’s economic comeback

Mayor Bill de Blasio, City Council Speaker Corey Johnson, Council Finance Chair Daniel Dromm and members of the City Council announced an agreement on the Recovery Budget, an on-time balanced City budget for Fiscal Year 2022 (FY22). The foundation for the $98.7 billion Recovery Budget is the strategic investment of stimulus funds that will drive New York City’s economic comeback and build a recovery for all of us.

“The Recovery Budget is a radical investment in working families. It will drive economic growth in every neighborhood, all while building on strong reserves and investing stimulus funds aggressively to put the pandemic behind us, once and for all,” said Mayor Bill de Blasio. “This budget is a historic investment in New York City and it’s exactly how we will achieve a recovery for all of us.”

The Recovery Budget meets five core goals: finishing the fight against COVID-19, building on strong reserves, boosting economic growth in every neighborhood, delivering an academic and emotional recovery for every student, and keeping all communities safe.

A recovery for the city begins with fighting the COVID-19 pandemic. The City has spent more than $8 billion in the fight against COVID-19, administering over 9.2 million vaccination doses. The City’s aggressive and equity-driven grassroots vaccination campaign has driven down COVID cases, hospitalizations, and deaths to the lowest levels since the pandemic began. The Recovery Budget includes funding to finish the fight against COVID and strengthen the City’s public health infrastructure in the long-term.

In this Recovery Budget, the administration promoted public health by expanding the grassroots vaccination campaign and making investments to establish New York City as the public health capital of the world. That mission includes support for LifeSci NYC, a billion-dollar commitment over the next decade to create an estimated 40,000 jobs in this fast-growing sector.  


Image courtesy of (Image courtesy: patch.com)

Share this post