Tipsheet

Mamdani's Solution to City's Budget Shortfall Is Exactly What You'd Expect

Amy Curtis
Amy Curtis  |  February 18, 2026 8:00 AM

Zohran Mamdani pulled off the biggest bait-and-switch in political history. He ran on a platform of making New York more affordable for people, and less than two months into his first term, he's coming out with massive property tax increases, as well as saying he might have to raid the city's rainy day and retiree health benefits trust to make up for massive budget short falls.

"However, in order to get to this point of closing the gap on both this fiscal year and the next fiscal year, we are forced to raid the rainy day fund, the retiree health benefits trust reserve, and to increase property taxes across these other years," he said.

He's also blackmailing Albany, saying he'll raise property taxes if Gov. Kathy Hochul doesn't allow him to raise business taxes and taxes on the "highest earners" in the city.

"For those who have watched budget after budget, it is tempting to assume we are engaging in the same dance as our predecessors. Let me assure you, nothing about this is typical," Mamdani said.

"That's why our solutions won't be either. There are two paths to bridge this gap. The first is the most sustainable and the fairest path," Mamdani continued, "this is the path of ending the drain on our city and raising taxes on the richest New Yorkers and the most profitable corporations. The onus for resolving this crisis should not be placed on the backs of working and middle-class New Yorkers."

Spoiler alert: when the corporations and richest New Yorkers leave the city, those working and middle-class New Yorkers will be forced to take up the slack. This is the most typical approach of Democrats and socialists ever: raise taxes on the wealthy, drive them out of your city/state, watch tax revenues fall, raise taxes on everyone.

Wash, rinse, repeat.

This is exactly what they voted for.

He could also control spending.

As always, their solution is to raise taxes.

Hopefully, this will teach voters not to elect Democratic Socialists, or Democrats in general. They run on empty promises of "affordability" only to make things very, very expensive for all of you.