Overview
- Zohran Mamdani becomes New York City’s mayor on Thursday with an affordability-focused platform that now moves into state and city budget negotiations starting at the end of January.
- Mamdani proposes universal childcare from six weeks to age five at an estimated $6 billion annually funded by higher taxes on wealthy residents and corporations, and Gov. Kathy Hochul has signaled skepticism about income-tax hikes while leaving the door open to a corporate-tax increase.
- He plans to freeze rents for roughly two million rent‑stabilized tenants via the Rent Guidelines Board, but late-term appointments by outgoing Mayor Eric Adams could delay action until terms expire; his housing agenda also pledges 200,000 affordable units over a decade and more funding for public housing.
- His “fast and free” bus proposal carries an estimated $800 million yearly cost requiring state support, and an earlier MTA free-bus pilot saw ridership gains without notable speed improvements as Hochul questioned making fares free for all riders.
- Mamdani also backs five municipally controlled supermarkets offering lower-priced groceries, a pilot that would need City Council funding and has drawn criticism from opponents who argue it resembles price controls.