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Mamdani asks New York State to raise taxes on ‘ultra-wealthy’ to address city budget deficit 

February 18, 2026 at 03:57 AM
By Sarah Davis
Mamdani asks New York State to raise taxes on ‘ultra-wealthy’ to address city budget deficit 
New York Mayor Zohran Mamdani (D) asked Democratic Gov. Kathy Hochul to raise taxes on the “ultra-wealthy,” citing a “significant chasm” in the city’s $5.4 billion deficit. During a preliminary budget proposal announcement on Tuesday, Mamdani laid out two different “paths” the city could take to address the deficit concerns.  The first and “most sustainable and…

Analysis & Context

New York Mayor Zohran Mamdani (D) asked Democratic Gov. Kathy Hochul to raise taxes on the “ultra-wealthy,” citing a “significant chasm” in the city’s $5.4 billion deficit. During a preliminary budget proposal announcement on Tuesday, Mamdani laid out two different “paths” the city could take to address the deficit concerns.  The first and “most sustainable and… This article provides comprehensive coverage and analysis of current events.
New York Mayor Zohran Mamdani (D) asked Democratic Gov. Kathy Hochul to raise taxes on the “ultra-wealthy,” citing a “significant chasm” in the city’s $5.4 billion deficit. During a preliminary budget proposal announcement on Tuesday, Mamdani laid out two different “paths” the city could take to address the deficit concerns.  The first and “most sustainable and…

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