The NYPD is facing its first budget cut in at least two decades — thanks to a “perfect storm” of events including “dire economic circumstances,” fallout from the George Floyd killing and calls for reform from the progressive wing of the City Council, experts and insiders said.

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Meanwhile, the City Council’s 21-member progressive caucus is meeting with criminal justice reformers who want $1 billion in cuts this year to the NYPD’s $6 billion budget as a response to charges of police misconduct.

“Many members of the progressive caucus have already come out in favor of #Defund NYPD and we will be taking a formal position as a caucus shortly,” said Ben Kallos (D-Manhattan), the group’s chair co-chair.