NYC’s $1.9 billion dilemma: How long can schools be ‘held harmless’ for enrollment losses?

New York City is spending $290 million next year on the 'hold harmless' policy to prevent budget cuts at schools with declining enrollment, up from prior years. Since 2020, the policy has cost nearly $1.9 billion, with 723 schools receiving funds and 55 receiving over $1 million each. Political opposition to phasing out the policy has emerged, complicating efforts to address the city's budget deficit.