New York City Faces $7 Billion Budget Gap
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 14 2026
0mins
Should l Buy CNDT?
Source: CNBC
- Budget Gap Issue: New York City is facing a budget gap of approximately $7 billion, prompting Mayor Mamdani to consider taxing the wealthy while acknowledging the need for alternative revenue sources, highlighting the urgency of fiscal pressure.
- Parking Fee Proposal: With about 3 million curbside parking spaces, 97% of which are free, the city is contemplating charging for parking to raise revenue, potentially altering a long-standing aspect of life for residents and indicating a significant shift in fiscal policy.
- Potential Revenue Analysis: If two-thirds of the free parking spaces were converted to resident permit parking at an annual fee of $100, it could generate around $200 million annually, demonstrating the potential of parking policy reform to address budgetary issues.
- Political Challenges: While charging for parking is seen as an effective revenue-raising strategy, the mayor faces political risks due to its regressive nature impacting lower-income earners, necessitating a balance between fiscal needs and social equity.
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Analyst Views on CNDT
Wall Street analysts forecast CNDT stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.250
Low
7.00
Averages
7.00
High
7.00
Current: 1.250
Low
7.00
Averages
7.00
High
7.00
No data
About CNDT
Conduent Incorporated is a global technology-led business process solutions and services company. The Company’s Commercial segment provides business process services that span its clients’ business processes end-to-end from the front-office to the back-office for a variety of commercial industries. Its technology-led solutions and services include Customer Experience Management (CXM), Business Operations Solutions (BOS), Healthcare Claims and Administration Solutions and Human Capital Solutions (HCS). Its Government segment provides government-centric services and solutions to U.S. federal, state, local and foreign governments for public assistance, healthcare programs and administration, transaction processing, payment services and case management. Its Transportation segment provides systems, support and revenue-generating solutions to government transportation agency clients. It delivers mission-critical tolling, transit and digital payment solutions that streamline operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
New York City Faces $7 Billion Budget Gap
- Budget Gap Issue: New York City is facing a budget gap of approximately $7 billion, prompting Mayor Mamdani to consider taxing the wealthy while acknowledging the need for alternative revenue sources, highlighting the urgency of fiscal pressure.
- Parking Fee Proposal: With about 3 million curbside parking spaces, 97% of which are free, the city is contemplating charging for parking to raise revenue, potentially altering a long-standing aspect of life for residents and indicating a significant shift in fiscal policy.
- Potential Revenue Analysis: If two-thirds of the free parking spaces were converted to resident permit parking at an annual fee of $100, it could generate around $200 million annually, demonstrating the potential of parking policy reform to address budgetary issues.
- Political Challenges: While charging for parking is seen as an effective revenue-raising strategy, the mayor faces political risks due to its regressive nature impacting lower-income earners, necessitating a balance between fiscal needs and social equity.
See More
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Data Affected: The affected data may include sensitive information such as member names, Social Security numbers, and medical details.
Potential Risks: The exposure of this data could lead to identity theft and privacy violations for individuals involved.
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Cybersecurity Incident: A significant cybersecurity incident occurred on January 13, 2025, highlighting vulnerabilities in digital security systems.
Impact on Organizations: The incident has raised concerns among organizations regarding their cybersecurity measures and the potential risks associated with data breaches.
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Conduent Appoints New Board Member
- New Board Member: Conduent announced the appointment of Greta Van to its Board of Directors, bringing over 20 years of experience in finance, audit, and risk management within global public companies, which is expected to add strategic value to the firm.
- Rich Leadership Experience: Currently serving as Chief Audit Executive at Jack Henry & Associates, Van oversees governance, internal controls, and enterprise risk, having successfully transformed the internal audit function and reduced external audit costs, thereby enhancing operational efficiency.
- Strategic Partnership: Van's addition is seen as crucial for strengthening board governance and risk frameworks, with her expertise aligning closely with Conduent's focus on technology-driven solutions and operational excellence, likely accelerating company performance.
- Support for Business Transformation: Conduent leverages advanced technologies like cloud computing and AI, processing over 14 million toll transactions annually, and Van's experience will help further optimize customer experience and reduce operational costs.
See More
Conduent Named Leader in Healthcare Payer Agility & Innovation by NelsonHall
- Leader Status Confirmed: Conduent has been recognized as a Leader in NelsonHall's 2026 Healthcare Payer Agility & Innovation NEAT evaluation, reflecting its exceptional ability to deliver immediate operational value while supporting payers' transformation needs.
- Modernized Operations Support: Conduent supports end-to-end healthcare payer functions across commercial and government markets through its HSP payer suite and Medicaid solutions, significantly reducing administrative burdens and streamlining payer workflows.
- Commitment to Innovation: The company's significant R&D investments have advanced modernization, UI transformation, and GenAI integration, resulting in cost savings and increased processing efficiency, further solidifying its competitive edge in the healthcare payer sector.
- Enhanced Client Value: Conduent processes over 14 million tolling transactions daily and creates substantial operational outcomes for clients through its digital solutions, enhancing customer experiences and business performance.
See More
Conduent Named to 2026 GovTech 100 for Fifth Consecutive Year
- Consecutive Recognition: Conduent has been named to the 2026 GovTech 100 list for the fifth consecutive year, highlighting its contributions to improving interactions between governments and businesses, which reflects the company's sustained influence and recognition in the market.
- Service Innovation: Conduent's Government Solutions division provides U.S. agencies with services such as healthcare claims administration and benefit payments, supporting critical programs like Medicaid and TANF, ensuring effective service delivery to the public.
- Transportation Solutions: The company's Transportation Solutions business offers road usage charging and urban mass transit services to state and local governments, helping transportation agencies worldwide enhance operational efficiency to meet growing urban mobility demands.
- Digital Transformation: Leveraging cloud computing and AI, Conduent processes approximately $80 billion in government payments and 2 billion customer service interactions annually, driving digital transformation in client operations to enhance customer experience and efficiency.
See More
New York City Faces $7 Billion Budget Gap
- Budget Gap Issue: New York City is facing a budget gap of approximately $7 billion, prompting Mayor Mamdani to consider taxing the wealthy while acknowledging the need for alternative revenue sources, highlighting the urgency of fiscal pressure.
- Parking Fee Proposal: With about 3 million curbside parking spaces, 97% of which are free, the city is contemplating charging for parking to raise revenue, potentially altering a long-standing aspect of life for residents and indicating a significant shift in fiscal policy.
- Potential Revenue Analysis: If two-thirds of the free parking spaces were converted to resident permit parking at an annual fee of $100, it could generate around $200 million annually, demonstrating the potential of parking policy reform to address budgetary issues.
- Political Challenges: While charging for parking is seen as an effective revenue-raising strategy, the mayor faces political risks due to its regressive nature impacting lower-income earners, necessitating a balance between fiscal needs and social equity.
See More
CONDUENT: POTENTIAL DATA BREACH INVOLVES MEMBER NAMES, SOCIAL SECURITY NUMBERS, MEDICAL RECORDS, AND INSURANCE INFORMATION
Data Affected: The affected data may include sensitive information such as member names, Social Security numbers, and medical details.
Potential Risks: The exposure of this data could lead to identity theft and privacy violations for individuals involved.
See More
CONDUENT: ENCOUNTERED CYBERSECURITY INCIDENT ON JANUARY 13, 2025
Cybersecurity Incident: A significant cybersecurity incident occurred on January 13, 2025, highlighting vulnerabilities in digital security systems.
Impact on Organizations: The incident has raised concerns among organizations regarding their cybersecurity measures and the potential risks associated with data breaches.
See More
Conduent Appoints New Board Member
- New Board Member: Conduent announced the appointment of Greta Van to its Board of Directors, bringing over 20 years of experience in finance, audit, and risk management within global public companies, which is expected to add strategic value to the firm.
- Rich Leadership Experience: Currently serving as Chief Audit Executive at Jack Henry & Associates, Van oversees governance, internal controls, and enterprise risk, having successfully transformed the internal audit function and reduced external audit costs, thereby enhancing operational efficiency.
- Strategic Partnership: Van's addition is seen as crucial for strengthening board governance and risk frameworks, with her expertise aligning closely with Conduent's focus on technology-driven solutions and operational excellence, likely accelerating company performance.
- Support for Business Transformation: Conduent leverages advanced technologies like cloud computing and AI, processing over 14 million toll transactions annually, and Van's experience will help further optimize customer experience and reduce operational costs.
See More
Conduent Named Leader in Healthcare Payer Agility & Innovation by NelsonHall
- Leader Status Confirmed: Conduent has been recognized as a Leader in NelsonHall's 2026 Healthcare Payer Agility & Innovation NEAT evaluation, reflecting its exceptional ability to deliver immediate operational value while supporting payers' transformation needs.
- Modernized Operations Support: Conduent supports end-to-end healthcare payer functions across commercial and government markets through its HSP payer suite and Medicaid solutions, significantly reducing administrative burdens and streamlining payer workflows.
- Commitment to Innovation: The company's significant R&D investments have advanced modernization, UI transformation, and GenAI integration, resulting in cost savings and increased processing efficiency, further solidifying its competitive edge in the healthcare payer sector.
- Enhanced Client Value: Conduent processes over 14 million tolling transactions daily and creates substantial operational outcomes for clients through its digital solutions, enhancing customer experiences and business performance.
See More
Conduent Named to 2026 GovTech 100 for Fifth Consecutive Year
- Consecutive Recognition: Conduent has been named to the 2026 GovTech 100 list for the fifth consecutive year, highlighting its contributions to improving interactions between governments and businesses, which reflects the company's sustained influence and recognition in the market.
- Service Innovation: Conduent's Government Solutions division provides U.S. agencies with services such as healthcare claims administration and benefit payments, supporting critical programs like Medicaid and TANF, ensuring effective service delivery to the public.
- Transportation Solutions: The company's Transportation Solutions business offers road usage charging and urban mass transit services to state and local governments, helping transportation agencies worldwide enhance operational efficiency to meet growing urban mobility demands.
- Digital Transformation: Leveraging cloud computing and AI, Conduent processes approximately $80 billion in government payments and 2 billion customer service interactions annually, driving digital transformation in client operations to enhance customer experience and efficiency.
See More
