Mayor Zohran Mamdani and Speaker Julie Menin have finalized a handshake agreement on a substantial $125.8 billion budget for New York City, prioritizing housing assistance while not expanding the NYPD. This deal, which aims to enhance the CityFHEPS rental voucher program, reflects a compromise amidst ongoing negotiations that had faced challenges over funding allocations. Despite some dilution of initial promises regarding rental aid, the budget is expected to provide important resources to alleviate housing concerns across the city. The agreement comes as lawmakers navigate pressures and deadlines surrounding fiscal planning, marking a crucial moment in local governance.