New York City Faces $12B Gap, Mamdani Urges Tax Hikes on Wealthy
TL;DR
Mayor Mamdani warned of a $12 billion two-year budget shortfall, blaming former Mayor Adams for underfunding key services and pressing lawmakers to raise taxes on the wealthiest New Yorkers and corporations; while some experts acknowledge past gaps, many details on remedies will come with the Feb. 17 executive budget, as the city faces questions about how to close the deficit.
- Mamdani Faults Adams for $12 Billion Budget Gap, Renews Call for Tax Hikes thecity.nyc
- New York Mayor Mamdani says city must hike taxes on wealthy to fill $12 billion deficit CNBC
- Zohran screams. Hochul Shrugs. Politico
- Mamdani begins his first budget tango – with ample criticism for his predecessor cityandstateny.com
- NYC Mayor Zohran Mamdani to call for tax hike, citing $12B budget deficit from Adams administration abc7ny.com
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