New York Mayor Zohran Mamdani speaks after he was ceremonially sworn in as New York City’s 112th mayor at City Hall by Sen. Bernie Sanders (I-Vt.) in New York City on Jan. 1, 2026. Spencer Platt/Getty Images
New York City Mayor Zohran Mamdani called on state lawmakers Wednesday to approve a 2 percent personal income tax increase on the city’s wealthiest residents as well as a hike in the corporate tax rate in a bid to close a multibillion-dollar budget gap.
The mayor testified in a New York State Senate 2026 budget hearing about how the city’s projected deficit had decreased from $12 billion to $7 billion.We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.
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