Hochul, Mamdani Discuss NY Budget, Federal Threats

New York Governor Kathy Hochul and Mayor-elect Zohran Mamdani are considering raising corporate taxes to address a potential budget gap, with the state facing a $34.3 billion deficit through its fiscal year 2029. Mamdani advocates for increasing the top corporate tax rate, while Hochul weighs the option amidst potential federal funding cuts. The states financial stability hinges on federal actions, with both leaders discussing potential threats, including federal intervention in New York City.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.