Zohran Mamdani Proposes 9.5% Tax Hike after Kathy Hochul Rejection

New York City Mayor Zohran Mamdani proposed a 9.5% property tax hike to close a $5.4B budget gap after Governor Kathy Hochul rejected higher taxes on the wealthy.A coalition including the United Federation of Teachers and Democratic Socialists of America is backing a "tax the rich" campaign to increase state income taxes.Critics warned that these tax increases and a $70M study for government-owned grocery stores could cause a resident exodus to the Southern USA.