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Posted on 03/02/2026 12:45:23 AM PST by Libloather
Mayor Zohran Mamdani’s pals in the state Legislature are pushing a bill to give him the power to slap a 25% tax liability “surcharge” on Big Apple corporations.
The democratic socialist mayor and his liberal followers have been on an ideological crusade to hike taxes on the wealthy and corporations to pay for their freebie-filled promises made during the 2025 campaign.
“This legislation would authorize New York City to charge a surcharge on corporate taxes, allowing the city to increase its corporate taxes should the mayor and City Council deem this necessary and appropriate,” said Assemblywoman Diana Moreno and Sen. Kristen Gonzalez in a memo summarizing their legislation.
Moreno, a fellow democratic socialist, was elected to fill Mamdani’s Assembly seat in Astoria after he left the state legislature and took office as mayor.
Gonzalez’s district covers parts of Western Queens, Northern Brooklyn and the East Side of Manhattan.
“Revenues generated from a corporate tax could contribute to addressing the affordability crisis and strong public services for residents of the city,” the lawmakers said.
But a summary of the bill does not specify how much the corporate tax hike would raise in revenue, stating it is “to be determined.”
Mamdani said he prefers Gov. Kathy Hochul and the legislature raise the income tax on millionaires or the corporate tax rate to help bridge a multi-billion-dollar gap in his budget plan and finance his ambitious agenda, rather than his “last resort” plan — an unpopular 9.5% property tax hike, which appears dead on arrival in the Council.
(Excerpt) Read more at nypost.com ...
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The corporate exits will hopefully continue.
🍿🍿🍿🍿🍿
Democratic socialist = Communist
Dis gonna be good.
Kinda sounds like a tariff. Commies should revolt. Chuckles could be in a bad spot here.
The red rose meant
something in his ad.
Symbolism is subtle...but means everything.
People need to wake up.
Texas and Florida will be welcoming more people and companies.
Red rose.
Every time.
Florida welcomes companies fleeing commie hellholes like New York..
should get interesting if that tax applies to stock sales on wallstreet...
Hochul ‘anti-fraud’ scheme backfires into a taxpayer gift to a monster union
Public unions’ stealthy scheme will siphon $100B from NY taxpayers
Should just make it 100%. You know they’re going to burn through the 25% and have to raise them higher, and then higher still. May as well just be honest about the end game.
😁 Hey New York... sit on it and swivel!!!
Sounds like a tariff to me.
As if corporations are going to stay still while Mamdani eviscerates them.
Yuk it up.
If Albany chickens out, guess where it will go for the money.
Congress.
And if Congress overrides the president’s veto, guess who will have the last laugh...
DO IT!! ONLY HARDER!!! THEY VOTED FOR THIS CRAP!
WHAT???
democrats and rinos have never met a tax increase they didn’t love.
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