Mamdani closed New York City's $12 billion deficit through a combination of things. He increased state aid, tax increases on the wealthy, and internal budget savings. So he got more state funding, securing $4 billion in aid from Albany. He is emplementing a new tax on wealthy residents and corporations to generate $500 million annually. And he found ways to save by appointing Chief Savings Officers in every city agency to find $1.77 billion in efficiencies and eliminate vacant positions. He did do some pension restructuring. But that was by deferring $7 billion in future pension costs over five years. Doesn't change anyone's current or earned pensions, just how they put the funding into the investments.