Mayor Mamdani is making a show of cutting the budget, with videos of him looking for millions under cushions. He’s pretending he’s leaving no stone unturned to close a $5.4 billion budget gap. Don’…
Mayor Zohran Mamdani released a satirical video of him looking for money around Gracie Mansion to close the city's $5.4 billion budget gap.close a $5.4 billion budget gap. Don’t buy it. These are token gestures meant to suggest the city has cut all it can, giving Albany cover to justify what he hopes comes next: Mamdani’s tax hikes on high earners and employers.
Sure, cutting low-value government spending deserves some credit, but the problem is that Mamdani’s savings are mostly speculative or trivial.Mamdani’s schools chief tells some tough truths In other words, his budget assumes those savings are real, even though they may never materialize, leaving not a $5.4 billion but a $7.1 billion gap.New York City can’t raise income or business taxes on its own, so he’s asking for a little help from his lefty friends in Albany. With the nominal April 1 state-budget deadline about to pass, legislative leaders and Gov. Kathy Hochul will kick negotiations into high gear, including tax talk. Mamdani admin only serves up $200M in savings — far short of $1.7B target amid massive budget shortfall The Legislature’s one-house budget plans would add up to roughly $17.5 billion in new state spending in just the forthcoming fiscal year — despite a $20 billion structural deficit —To pay for it, lawmakers are pushing aggressive tax hikes, including four higher city taxes straight from Mamdani’s wish list.The Legislature’s proposed double-down on corporate taxes — literally, to a combined city-state rate about double New Jersey’s — will only push firms to scale back activity or avoid New York altogether.She knows any new taxes will harm the state’s already flagging economy, dwarfing whatever good — if any — comes from Mamdani’s spending. There’s more than enough room in the city budget to prevent tax hikes and impairments to existing services.He can’t bring himself to trim personnel costs — salaries, health benefits, pensions — that make up the largest share of the city budget. Hochul should make him. The mayor hasn’t even started talking about a pause on hiring, much less cut some of the city’s 330,000 workers or use technology to make them more efficient. Any tax increase, then, would effectively subsidize low-productivity jobs that would be first on the chopping block if the mayor had to make real cuts and use the city workforce in ways that deliver better public value. If Hochul gives in now, it’ll take but a New York minute before the mayor comes back with his tin cup. After all, Mamdani is asking for hikes that won’t even fund his expensive campaign promises like fare-free buses and universal child care.If Mamdani won’t make tradeoffs that bring spending in line the city’s already enormous revenues, at a time when there’s no recession or financial crisis, it’ll only make future budgets more unworkable — particularly those coming soon that’ll require billions for labor negotiations.Hochul and Menin can’t let Mamdani skip the hard parts of his job and force hardworking taxpayers to do the heavy lifting.'No Kings' protests turn violent in Portland, LA and Dallas -- as rally near Mar-a-Lago takes bizarre turn Oil heir ordered to pay historic $1.1B after brutally attacking toddler stepson, putting him in wheelchair Former Tiger Woods employee blasts golf pro as 'terrible driver,' reveals why he likely refused urine sample after arrest Stream It Or Skip It: 'Jo Nesbø's Detective Hole' On Netflix, Where A Troubled Detective Tracks Down A Serial Killer Who Is Terrorizing Oslo
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