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Brannan highlights NYC's economic resilience and strong revenue
0:10:07
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Council Member Justin Brannan emphasizes New York City's economic resilience and strong revenue performance, contradicting the administration's more pessimistic outlook. He cites evidence of the city's economic recovery and growth.
- Tax revenues have consistently exceeded OMB's expectations, aligning with the council's economists' predictions
- Brannan notes that payroll employment grew by 83,000 positions in 2024
- He highlights that tourism has rebounded to pre-pandemic levels, as reported in the Federal Reserve's beige book
Justin Brannan
0:10:07
Despite these proposed cuts, New York City's economy has proven to be durable and resilient.
0:10:12
Tax revenues have exceeded OMB's expectations time and time again just as our council's economists have predicted.
0:10:19
The administration has adjusted its outlook to reflect the stronger than expected recovery.
0:10:24
Right here in New York City, payroll unemployment grew by 83,000 positions in 2024, and tourism has bounced back to pre pre pandemic levels as noted in the Federal Reserve's beige book.
0:10:36
With these economic realities in mind, we cannot and will not accept a budget process built on fear, false choices, or misleading numbers.