Independent Budget Office Reviews De Blasio's Budget

The New York City Independent Budget Office has released a review of Mayor de Blasio's Executive Budget and four-year financial plan. The budget was released under the shadow of a potential government shutdown and threats of funding cuts coming from Washington. The IBO reports low unemployment rates and an uptick in wage growth, despite evidence of a slowing local economy. Department of Education spending is expected to increase almost $4 billion over the next four years. Contributors to the increase include the mayor's "3K For All" program and increased charter school enrollment. The IBO said overall, the budget should lead to a stable economy. but economists said the American Healthcare Act and President Trump's tax reforms have added concerns to the city's fiscal stability.