Michael R. Bloomberg
PER
Michael R. Bloomberg Bloomberg
The first report was released in April 2002, when the city was reeling from the 9/11 attacks and Mayor Michael R. Bloomberg, who was newly elected, faced astonishing deficits. In contrast, the preliminary budget Mr. Bloomberg released last month, at the start of his second term, projects a $3.3 billion surplus, driven by taxes on real estate transactions, personal income and business profits. Mr. Bloomberg rejected the idea, but months later, New Jersey enacted just such a tax in its budget.