Mayor Bill de Blasio and the City Council have struck a deal on a $75 billion budget proposal with a largely liberal agenda. 

It's a historical moment in New York City because of the speed at which de Blasio, who is just shy of completing his first six months in office, reached the agreement. The budget also has a focus on social programs not seen in nearly 20 years. 

Highlights include a $40 million investment in affordable housing, $300 million in state aid for universal pre-kindergarten and more than $100 million for after-school programs, as well as a free lunch program for every middle school student regardless of income. 

Additional housing funding will go toward boosting security at NYCHA buildings, and will save nearly 60 public housing centers citywide. 

The deal also holds taxes steady and avoids city worker layoffs.