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flag Mayor Mamdani blames Adams and Cuomo for a $12B deficit, plans taxes on high earners to avoid service cuts.

flag 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. flag 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. flag While business leaders warn of potential outmigration, data shows limited actual tax-driven movement. flag 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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