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REMARKS
Chair Brannan presents the Council's economic and tax forecast
0:07:27
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30 sec
Finance Chair Justin Brannan introduces the Council's economic and tax forecast for the FY '26 budget, highlighting the city's economic resilience.
- The Council released its updated economic and tax forecast for FY '26.
- Findings remain consistent with the Council's previous arguments throughout the budget process.
- New York City's economy shows resilience with higher tax revenues than projected by OMB, despite economic growth lagging below the long-run average.
Justin Brannan
0:07:27
Thank you, speaker.
0:07:29
As you mentioned yesterday, the council released our economic and tax forecast for the f y twenty six budget.
0:07:36
And the findings from our updated analysis remain consistent with what the council has been arguing through the budget process.
0:07:42
New York City's economy continues to show resilience with higher tax revenues than projected by OMB over FY twenty five and twenty six even though our economic growth lags below our long run average.