> My impression was that NYC had its own budget, paid for by its own taxes.

If those who claimed they would leave NYC for Florida (etc.) make good on their promises NYC will see a significant drop in tax revenues while the expenditures will skyrocket due to Mamdani's free-stuff policies. They can try to increase taxes which will lead to more net tax payers leaving the city. Of course it remains to be seen whether all those who said they would leave - up to a million people according to the legacy media - end up doing so but if this comes to pass those free buses might not end up happening after all. He'll probably blame it on the exodus and wash his hands clean off his campaign promises.