Monday, June 19, 2023

Migrant crisis threatens NYC’s fiscal stability; Report: NYC Mayor Eric Adams to Cut Services for New Yorkers So Migrants Can Stay in Hotels Free of Charge

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Migrant crisis threatens NYC’s fiscal stability:
Good news for the city from state Comptroller Tom DiNapoli: Better-than-expected tax collections could leave it with a $3 billion surplus this year.
Bad news: Hosting the flood of illegal migrants still leaves Gotham’s longer-term budget gaps looking worse — and may even derail the ongoing recovery from COVID and the lockdowns.
The city’s already spent more than $1 billion on shelter, food and other services for 60,000 “asylum seekers,” with costs projected to soar to over $4 billion by next year.
This, when the expected gaps in coming fiscal years already total more than $11 billion.
Start saving now! advises Comptroller Obvious. --->READ MORE HERE
A Holmes/LC. Ribeiro/NY Daily News/Tribune News Service via Getty Images
Report: NYC Mayor Eric Adams to Cut Services for New Yorkers So Migrants Can Stay in Hotels Free of Charge:
New York City Mayor Eric Adams (D) is set to funnel billions in local taxpayer money to the powerful hotel industry, providing more than 140 hotels with multi-million contracts to house newly arrived border crossers and illegal aliens. As a result, the city is considering cutting public services like meals for senior citizens and library hours for New Yorkers.
Since the spring of last year, more than 74,000 border crossers and illegal aliens have arrived in New York City — most of which are being given free hotel rooms to stay, paid for by local taxpayers, under a plan imposed by Adams.
The hotel industry, hit hard by the Chinese coronavirus pandemic in 2020, is profiting millions, potentially billions, from the lucrative migrant hotel contracts, Bloomberg reports. In many cases, records show that New Yorkers are being charged daily hotel rates that are well above the market rate.
Take the Holiday Inn in Manhattan’s Financial District, for example, which is raking in $190 a night per room given to newly arrived migrants — a 73 percent increase in its rate. This hotel, alone, is expected to rake in $10.5 million under its contract with the city.
The Row Hotel in Times Square, housing hundreds of migrants, is set to pull in almost $100 million from taxpayers via its city contract.
As a result, Adams has suggested that New Yorkers will see their public services cut, Bloomberg reports: --->READ MORE HERE
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