Democratic lawmakers will throw their support behind Mayor Zohran Mamdani’s push to “tax the rich” in the upcoming state budget, according to a new report.
Mamdani’s proposal to hike taxes on New York City’s millionaires will be part of one-house budget resolutions from state Assembly and Senate Dems, Politico first reported.
NY Dems are willing to wrangle with Hochul to push up taxes Luiz C. Ribeiro for NY Post
Those resolutions are nonbinding, but signal state Democrats’ willingness to tangle with Gov. Kathy Hochul — who has repeatedly said she doesn’t support hiking taxes on the wealthy.
A source with knowledge confirmed that Mamdani’s administration recently pitched Albany lawmakers on a slew of high-dollar-focused hikes, including a 2% increase in personal income taxes on Big Apple residents making $1 million or more.
The millionaire’s tax alone would raise a projected $3 billion, according to an X post shared by Mamdani’s allies with the city’s Democratic Socialists of America.
