Queens

Mamdani’s push to ‘tax the rich’ could make sense for NYC, fiscal analysts say, despite Hochul opposition

By Renee DeLorenzo Posted on

Economists at the Groundwork Collaborative (GWC) say Mayor Zohran Kwame Mamdani’s proposed millionaire tax is a financially sound decision for New York City amid its 2026-27 Fiscal Year budget negotiations.

GWC — a Washington, D.C.-based progressive think tank and advocacy organization — said not only would imposing a 2% tax hike on the wealthiest New Yorkers earning more than $1 million a year balance this year’s budget, but it would help solve budget shortfalls for the foreseeable future.

See the full article at QNS

Mamdani’s push to ‘tax the rich’ could make sense for NYC, fiscal analysts say, despite Hochul opposition

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