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flag New York Governor Hochul allocates $1.5 billion to help city address fiscal shortfall as mayor plans budget.

flag Governor Kathy Hochul has committed $1.5 billion in additional state funding to New York City as Mayor Zohran Mamdani prepares a preliminary budget plan to address a significant fiscal shortfall. flag The aid comes amid concerns over the city’s financial stability following Mamdani’s calls for tax increases to close the gap. flag The funding is part of a broader effort to stabilize the city’s finances ahead of the formal budget submission.

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