Zohran Mamdani is running for mayor with backing from two PACs: OneNYC, focused on community engagement, and New Yorkers for Lower Costs, which links to affordability initiatives. Business leaders have established a competing PAC, New Yorkers for a Better Future, aiming to raise $20 million to oppose Mamdani's candidacy due to concerns about his proposed tax increases on corporations and high earners to fund his initiatives. Mamdani's agenda includes raising the corporate tax rate significantly to finance these proposals, eliciting alarm among business circles.
Mamdani's campaign is buoyed by a pro-Mamdani super PAC called OneNYC, which is led by Yasser Salem, aiming to elevate community capabilities and culture.
While Mamdani's allies mobilize support, opponents from the business community are backing a PAC to raise $20 million focused on defeating his mayoral bid.
Mamdani is a democratic socialist Queens Assembly member proposing raising the state's corporate tax rate as a way to fund affordability initiatives.
Concerns regarding Mamdani’s tax proposal to raise taxes on corporations and high earners reflect growing unease within the city's business circles.
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