New York City Mayor Zohran Mamdani (D) reiterated his call for tax increases on businesses and high earners, opening a potential rift with Gov. Kathy Hochul (D) over her $260 billion budget plan.
Hochul said at her Tuesday budget briefing that tax hikes aren’t necessary as New York State sees strong revenue collections thanks to a booming stock market and wage growth. But Mamdani said increases are needed as the city stares down a roughly $13 billion budget gap over the next two years.
“It is time to ask New York City’s wealthiest and large corporations to pay their ...
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