Zohran Mamdani, a Democratic New York Assemblyman and hopeful for the New York City mayoral seat, is promising voters an array of government-funded benefits.
However, the financing of these benefits remains a mystery. Mamdani's ambitious plans include free buses, free childcare, city-run grocery stores, and a $30 minimum wage. Despite trailing behind former Democratic New York Governor Andrew Cuomo in the Democratic primary, Mamdani is optimistic about his proposals.
To fund these initiatives, Mamdani has proposed an increase in the state's corporate tax rate and a 2% flat tax on the city's high earners. However, as reported by Politico, these revenue sources are unlikely to be sufficient or politically viable. Mamdani, who enjoys the backing of the Democratic Socialists of America, believes that these measures would raise $10 billion.
"New Yorkers can afford their rent, can afford public transit, can afford their child care, can afford their groceries one where New Yorkers can do more than worry each and every hour of each and every day whether or not they can continue living in the wealthiest city in the wealthiest country in the world," Mamdani stated in April.
However, Politico suggests that $10 billion may not be enough to cover the cost of Mamdani's progressive agenda. For instance, his campaign estimates that his proposed upgrade of 500 schools in the city will cost $3.27 billion, but the actual figure could reach into the tens of billions.
The implementation of many of Mamdani's proposals would require the approval of the state Legislature and Democratic Governor Kathy Hochul, who has dismissed the idea of raising income taxes. "I will cut income taxes instead. That's how I'm going to keep people here," Hochul, who is up for reelection in 2026, stated.
Former Democratic New York Governor David Paterson, who led the state between 2008 and 2010, expressed skepticism about Mamdani's ability to deliver on his ambitious promises. "He articulates his points very well, and they make sense. You understand exactly what hes saying. The problem is: Nobody told him theres no such thing as Santa Claus," Paterson commented.
Opponents of tax hikes warn that additional increases could further accelerate the city's population decline and undermine its economic base. New York City, already among the most expensive cities in the nation, lost more than 300,000 residents between early 2020 and July 2024.
Even if Mamdani succeeds in passing his proposed tax hikes, he would likely still need the governors and Legislatures approval to borrow tens of billions and push to raise the citys debt limit.
Despite these challenges, Mamdani remains undeterred, and his message appears to be resonating with some New York City voters. An internal Mamdani campaign poll shows the candidate with 27% support, trailing Cuomo at 40%, while all other candidates in the race polled below 10%.
Mamdani's campaign has focused in large part on combating the Trump administration. "The Mamdani revenue plan is necessary in order to Trump-proof New York City," Mamdani campaign spokesperson Andrew Epstein wrote in an email. "We are confident that Zohran will use his experience in advocating for smart tax policy in Albany where he won major tax increases on billionaires and corporations in 2021 to deliver a New York that protects its people from the Trump administrations attacks on the working class."
Mamdani, a member of the Democratic Socialists of America, has drawn criticism for his anti-Israel positions. He has refused to say whether Israel has the right to exist as a Jewish state, openly supports the anti-Israel boycott, divest and sanction movement and stated he would arrest Israeli Prime Minister Benjamin Netanyahu if he ever set foot in the city.
If Mamdani wins the Democratic primary in June, he will face off against incumbent Mayor Eric Adams, now running as an independent, in the general election.
Mamdani did not respond to the Daily Caller News Foundations request for comment. His ambitious plans and the lack of clarity on their funding raise questions about the feasibility of his campaign promises. As the city grapples with economic challenges and population decline, the viability of such proposals remains to be seen.
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