Mayor Mamdani testifies on NYC budget, pushes for tax hikes and free buses
Mayor Zohran Mamdani is in Albany today, participating in his first 'Tin Cup Day' to make the case for New York City's budget.
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Mayor Zohran Mamdani was in Albany on Wednesday, participating in his first 'Tin Cup Day' to make the case for New York City's budget.
It is an annual event where local government officials present their requests to state legislatures for their respective budgets.
"The imbalance in our relationship with the state is draining our city's resources," Mamdani said.
The mayor addressed the city's budget gap, originally estimated to be just over $12 billion over two years. In his opening testimony, the mayor says the gap is less than anticipated at $7 billion.
"I’m glad to report that by assuming an aggressive posture on savings without compromising city services, incorporating updated revenue and bonus estimates, and using in-year reserves, we have lowered that $12 billion gap to $7 billion," the mayor said.
Mamdani maintained a similar stance, much of which he addressed in a recent press conference that he dubbed the "Adams' Budget Crisis", blaming his predecessor for gross mismanagement and underestimating known government expenses.
RELATED: Mamdani pushes promise of taxing the rich to make up for $12 billion budget deficit
"He budgeted $860 million for cash assistance, when the need was $1.6 billion, $1.1 billion for rental assistance, when the need was $1.8 billion, $1.5 billion for shelters, when the need was $2 billion," the mayor said.
Mamdani was joined by his First Deputy Mayor Dean Fuleihan, Chief Budget Officer Sherif Soliman, and Intergovernmental Affairs Chief Jahmila Edwards.
His administration says they have identified $1 billion in savings by looking at contracts and programs that are not effective, but did not explain how they will achieve this.
Despite revising the gap down by $5 billion, Mamdani did not back down on his campaign promise of a 2% tax hike on millionaires, corporations and to fund his free bus initiative.
"This is the kind of money that doesn't push someone out of a city. It is the kind of money, on a cumulative way and a comprehensive way, can help the city get back on firm financial footing," the mayor said.
Those taxes are a tough sell in Albany, even to Mamdani's allies. State lawmakers pressed the mayor, raising concerns that higher taxes could drive top earners to lower tax states.
"We are going to need details," said State Senator John Lui, who pushed Mamdani for answers on how he plans to reduce school class sizes, a state law that the city must comply with.
The mayor says specific details will be laid out on Feb. 17, when the preliminary balanced budget is du
