Budget director shapes fiscal strategy amid revenue battles with Albany
Sherif Soliman, who has served in finance roles across three mayoral administrations, becomes Mamdani’s budget director as Office of Management and Budget head. The appointment, announced December 18, 2025, signals that Mamdani intends to manage the municipal budget with institutional expertise while still pursuing progressive policy. Soliman previously served as finance commissioner under de Blasio and held positions in the MTA and CUNY. His multi-administration tenure suggests allegiance to bureaucratic competence over partisan loyalty.
Budget Director Role
The OMB director controls how the city allocates $127 billion in annual spending. This includes negotiations with the City Council over spending priorities, management of agency budgets, revenue forecasting, and decisions about which services expand or contract. The role is among the most powerful in city government, second only to the mayor.
Fiscal History and Experience
Soliman was finance commissioner under de Blasio during a period of significant public investment in education, homelessness services, and infrastructure. He also served on the Property Tax Reform Commission, giving him expertise in the tax equity issues now central to Mamdani’s fiscal strategy. His appointment suggests Mamdani intends to use OMB aggressively to reshape budget priorities, but within institutional constraints.
Property Tax Reform Expertise
Soliman’s prior work on property tax reform positions him well to advance Mamdani’s agenda around tax equity. The current property tax system, assessed on property values, produces massive inequities where identical homes in Black and white neighborhoods carry different tax burdens. Reforming this system requires changing state law and challenging entrenched interests. Soliman’s experience navigating this terrain will be crucial.
Revenue Forecasting and Budget Gaps
Soliman manages revenue forecasts that determine whether the city faces budget shortfalls or surpluses. These forecasts are often political: more pessimistic forecasts justify spending cuts and tax increases; more optimistic forecasts suggest room for new spending. Soliman must balance budget discipline with allowing for progressive policy expansion.
Constraints and Opportunities
Soliman cannot control state-imposed mandates or unfunded liabilities like retiree pension costs. He must manage these constraints while pursuing Mamdani’s agenda. His success depends on whether revenue increases materialize and whether the mayor holds firm on fiscal priorities or capitulates to business pressure for austerity. For OMB information and budgets, see the NYC OMB website. Learn about municipal finance at Government Finance Officers Association. Read budget analysis at Citizens Budget Commission. Understand fiscal policy via Lincoln Institute of Land Policy.
