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Mayor Mamdani blames Adams and Cuomo for a $12B deficit, plans taxes on high earners to avoid service cuts.
New York City Mayor Zohran Mamdani blames former Mayor Eric Adams and Governor Andrew Cuomo for a $12 billion budget deficit, citing mismanagement and unmet state funding.
He plans to raise taxes on high earners and corporations to avoid cuts to essential services, proposing a 2% tax on incomes over $1 million and higher corporate rates.
While business leaders warn of potential outmigration, data shows limited actual tax-driven movement.
Mamdani emphasizes fiscal responsibility and public service investment, rejecting austerity, as he prepares to collaborate with state leaders on upcoming budgets.
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El alcalde Mamdani culpa a Adams y Cuomo por un déficit de $ 12 mil millones, planea impuestos a los altos ingresos para evitar recortes de servicios.