Posted on 05/13/2026 3:44:02 PM PDT by yesthatjallen
New York City Mayor Zohran Mamdani unveiled a new budget that taxes the rich, forgoes a property tax hike, and depends on the generosity of Gov. Kathy Hochul to fill a budget gap Mamdani called historic.
Mamdani's gap reprieve came in the 11th hour.
The mayor was unrepentant in his determination to tax the rich and create a city that is more hospitable to working New Yorkers. The lingering question is whether it will drive businesses out and hurt the tax base.
Mamdani said his preliminary budget proposal released 12 weeks ago, "reflected a straightforward reality. New York City was reckoning with an historic budget gap."
To tackle the $12 billion gap he said he inherited, Mamdani sought more money from Albany, and threatened to raise property taxes.
"In the month that followed, we took aggressive steps to tackle the deficit, and drove it down to $5.4 billion. Today, after three more months of painstaking work, I am proud to announce that we have closed the gap entirely down to zero. It has not been easy, but we have balanced the budget, and we have done so without placing the burden on the backs of working New Yorkers," Mamdani said.
SNIP
(Excerpt) Read more at cbsnews.com ...
To close the $12 billion gap, Mamdani gets $16 billion dollars from the Hochul.
Liberal accounting.
correction. $12 billion not $16 billion.
The tax money these idiots “project” (both parties do it) will not be realized.
What would be the alternative - free market, conservative - solution to what he’s proposing and to NYC’s exorbitant costs/middle class unlivability? It’s better to suggest alternatives instead of just bagging on him for his every move or comment.
Is the budget balanced if you are just taking money from the State ?
No. He’s a lying sack of islamofascist shite.
Yeah, I project I’ll be a billionaire, too. Just not sure when....
Where did Hochul steal that $4 billion from?
The pied-a-terre tax is supposedly targeted at the very wealthy.
If I were in that bracket, I would be tempted to consider donating the property to a suitable non-profit organization, taking the bit tax write-off, and taking the property off the NYC tax roles permanently.
As soon as my Mega Millions lottery hits the jackpot! ;-)
Oh yes, let’s be fair to the Marxist Mamdani. After all, he’s been fair to conservatives & the rich. It’s sad that you feel the need to stick up for him & his ridiculous ideas.
Prove your solutions will make life better or at least put up a real fight with a viable GOP candidate. Otherwise, it’s just wasteful whining and inflation is back to Biden numbers in the rest of America.
He hasn’t balanced a damn thing.
Begging the governor for money is not balancing the budget............
Not the Bee?
He has t been as horrible as I feared. Living in Chicago,I expected another Brandon.
Just like every other mooselimb.
Not really.
The money came from deferring pensions, and a Hochul handout. Nothing to do with his policies or creative thinking.
At all.
I have a feeling that the tax code isn’t going to work out how he believes it will. It will never bring in the amount he thinks because people change behavior.
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