New York City distributed over $2.6 billion in cash assistance to residents in 2025, marking a 30-year high not seen since before welfare reforms in the early 2000s. The payments reached a record 864,999 individuals, according to a review of city records by Fox News Digital.
This figure represents a 71% increase from the $1.57 billion disbursed in 2022. When combined with payments from the Supplemental Nutrition Assistance Program (SNAP), the total welfare spending in the city surpassed $7 billion in 2024, based on an analysis of data from the Human Resources Administration (HRA).
The rise in welfare disbursements coincides with concerns from some of the city's wealthiest residents about a business-unfriendly policy environment. Mayor Zohran Mamdani's administration has implemented new tax policies, including a tax on second homes valued at over $5 million for owners who do not reside full-time in the city. Mamdani has characterized this policy as targeting "the richest of the rich."
One notable instance involved hedge fund CEO Ken Griffin, who threatened to halt investment in his Citadel offices after Mamdani publicly called him out in a video promoting the new tax. Griffin described the mayor's video as "inappropriate" and "creepy," stating it put him in harm's way.
Mamdani's administration has continued the trend of increasing welfare payments. The city's budget for 2026 includes a $14.63 billion allocation for the HRA, which handles welfare and social services. This represents a more than $2.6 billion increase from the previous year's allocation and constitutes 14% of the city's total budget. The 2026 budget's HRA outlay is $11.97 billion.
The HRA and the Mayor's office were contacted for further comment.