Zohran Mamdani Pushes NYC Tax Hike On The Rich — In Blow To Fellow Democrat Kathy Hochul’s Budget Plan

New York City Mayor Zohran Mamdani said Wednesday that he intends to press ahead with income tax increases, brushing aside a state budget proposal from Gov. Kathy Hochul that included a promise not to raise taxes, the NY Post report.

Mamdani’s stance marks his latest effort to nudge Hochul leftward, aligning state policy with his own agenda and that of progressive supporters who want higher taxes on wealthy residents and corporations to finance expansive initiatives, including fare-free bus service.

“Our administration is preparing to make the case that it is the time for New York’s most profitable corporations and wealthiest residents to pay their fair share,” Mamdani said while speaking to reporters at an unrelated event at the Whitney Museum in Manhattan.

His remarks came a day after Hochul rolled out a sweeping $260 billion spending plan for New York, as the Democratic governor navigates competing pressures from both ends of her party in an election year.

Hochul’s budget also included a proposal for universal pre-kindergarten, a priority long championed by Mamdani and his allies.

Still, the mayor argued that the city is shortchanged under the current arrangement, noting that New York City contributes 54.5% of state tax revenues but receives only 40.5% in return, and that any local tax increases would require approval from Albany.

“What we are looking to do is to tackle long standing fiscal issues that both have to do with the need for more revenue from the highest earners, but also the relationship between City Hall and Albany,” he said.

Despite having been in office for just three weeks, Mamdani is already confronting a projected $12.6 billion budget gap over the next two fiscal years. He laid the blame for the city’s financial troubles on his predecessor, Eric Adams, while saying the state’s finances remain solid.

“I think that it’s actually the governor’s fiscal stewardship, I think it’s also the strength of our city’s tax base, that the state is on firm financial footing,” Mamdani said.

“The issue, however, is that the city is not, and that is a result, a direct result of Eric Adams’s gross fiscal mismanagement,” he added.

The mayor’s comments add to the political challenges facing Hochul as she tries to balance demands from the party’s progressive wing with the need to appeal to moderates and suburban independents. She is also facing a primary challenge from Lt. Gov. Antonio Delgado, who is running from her left.

Republican Bruce Blakeman, the Nassau County executive, has seized on the issue early in the campaign, portraying Hochul as captive to the Democratic Party’s liberal base.

Hochul had endorsed Mamdani during his 2025 campaign in a move that surprised many observers, and later faced chants of “Tax the Rich” from crowds at a large rally of his supporters.

Even as Mamdani continues to advocate for higher taxes on affluent individuals and businesses, a recent report from City Comptroller Mark Levine showed that tax revenues rose by 7% in fiscal year 2026.

“This wasn’t caused by a bad economy — it’s the result of budgeting decisions from the previous administration that we must now deal with,” Levine said.

While Hochul has not entirely ruled out tax increases after the November elections, her budget director Blake Washington told the New York Post on Tuesday that the governor wants to steer clear of that option.

“She thinks it’s a last resort to raise taxes on anybody at any time,” Washington said.

{Matzav.com}