Mayor Zohran Mamdani is calling on help from Albany lawmakers to shrink a massive gap in New York City’s budget.
The mayor estimates the budget gap is around $7 billion for the current and next fiscal years combined. Gov. Kathy Hochul says the state is committing another $1.5 billion to help the city.
Mamdani says there are two paths to fixing the budget: taxing the “ultra-wealthy” and “most profitable corporations” through Albany or the City can find ways to balance the budget “on the backs of working people.”
“I know where I stand,” Mamdani said Tuesday morning ahead of his preliminary budget announcement.
“New Yorkers voted for bold change and competent leadership. We will deliver both, and we look forward to partnering with Albany to protect working New Yorkers,” the mayor said on X.
Mamdani is expected to announce the details of his plan Tuesday at 1:30 p.m. Watch in the video player above.
Mayor Zohran Mamdani sounded the alarm on the city’s $12 billion deficit. He blamed the crisis on the previous administration and says he wants to tax the wealthy to help fill the gap. NBC New York’s Melissa Russo reports.
