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Mamdani Pushes for Tax Hikes on Wealthy New Yorkers to Fill Budget Gap
News January 28, 2026 at 10:27 AM
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What You Need To Know
- The new mayor campaigned on raising income tax rates by 2 percentage points on those earning over $1 million a year.
- Mamdani also said he is open to the possibility of a wealth tax, similar to the one proposed in California.
- The push sets up a potential conflict with Gov. Kathy Hochul, who is running for reelection and has said she won't raise taxes.
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