February 28, 2019
The New York Building Congress says the de Blasio administration’s preliminary capital budget represents a commitment to meet lofty infrastructure goals, despite concerns of national economic uncertainty. The Midtown-based construction industry group issued an analysis of the capital budget on Wednesday.
“The long-term stability and growth of New York is contingent on good schools, safe and reliable transportation, and a basic state of good repair of the city’s infrastructure,” said Carlo A. Scissura, president & CEO of the Building Congress. “Mayor de Blasio and his administration’s latest capital plan is a timely and sensible step forward to ensuring our city’s prosperity in the coming decades.”
The current fiscal year’s capital project spending of $9.8 billion is the highest in the past seven years, says the Building Congress. The budget proposes capital spending of $52.6 billion during fiscal years 2020 through 2023, more than any similar period on record.
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