Overview

• At a Bronx rally with 1199SEIU, Zohran Mamdani said his proposal would raise $9 billion plus $1 billion from city savings and reforms.
• His plan includes a new 5.9% New York City income tax on residents earning over $1 million and higher corporate taxes he says would align with neighboring states.
• The campaign says the revenue would fund free buses, universal child care and city-run grocery stores, and he also points to curbing NYPD overtime that has topped about $1 billion.
• Any change to city income taxes requires state legislation or budget action, with Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins signaling support for higher taxes.
• Hochul endorsed Mamdani earlier this month but maintains her opposition to raising income taxes, and the current landscape includes 2021 state rate hikes with surcharges now extended to 2032.