“New York Mayor Mamdani says city must hike taxes on wealthy to fill $12 billion deficit”
February 3, 2026
“New York City Mayor Zohran Mamdani said the Big Apple’s wealthiest residents must pay more in taxes to help close a looming budget deficit that tops $12 billion.
Mamdani, a Democrat, downplayed fears from some of the city’s business elite that tax hikes will lead to capital flight.
He pointed to potential budget savings, citing the Adams administration launching a “basically unusable” AI chatbot that reportedly cost about $600,000 to develop…”
https://www.cnbc.com/2026/01/28/zohran-mamdani-taxes-nyc-rich-budget.html