This edition: Can Mamdani Balance the NYC Budget without Raising Taxes?
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Original tape date: April 7, 2026. First aired: May 12, 2026.Last February, left wing NYC Mayor Zohran Mamdani released his “preliminary budget” projecting a deficit of $5.4 billion which he would close by imposing a “tax on the rich.” To do the income tax piece, he needs authority from Albany, unlikely in an election year. So, his fallback is a hefty 9.5% property tax rate increase generating $3.7 billion and invading city reserves called the “rainy day fund.” Robust pushback has come from the more moderate City Council which must approve the plan. Andrew Rein, President of the Citizen Budget Commission shares his insights on the executive budget.
Guest List
Andrew Rein President, Citizen Budget Commission
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