"New York Governor Kathy Hochul has labeled herself a " staunch capitalist" while affirming her intent to collaborate with Zohran Mamdani, the Democratic Socialist mayoral candidate who has rapidly become the frontrunner for New York City's top job. The political spotlight on Mamdani intensified throughout the week as he met with Mike Bloomberg, a former three-term mayor and a billionaire with deep ties to the city's business class and philanthropic community."
"Hochul's declaration was delivered during an interview with Bloomberg TV, in which she underscored her opposition to tax increases and reinforced her pro-business values. Hochul said businesses need to know that "the city of New York, as powerful and mighty as it is, is still a subdivision of the state, so any tax increase has to come across my desk first.""
"The governor's remarks were widely seen as both a pitch to reassure nervous business leaders and a marker of her intent to maintain a pragmatic working relationship with whoever occupies City Hall-even if it's a Democratic Socialist like Mamdani. She said she'll work "to help him understand that when we want to solve society's problems, and there are many, we also need to make sure we have the resources to do it.""
Kathy Hochul labeled herself a staunch capitalist and said she will work with Zohran Mamdani, the Democratic Socialist front-runner for New York City mayor. Mamdani met with Mike Bloomberg and signaled he will apologize for past criticisms of the NYPD. Hochul opposed tax increases and stressed that any city tax hike must pass her desk as governor. Mamdani campaigned for a millionaires tax and higher corporate tax rates. Hochul framed her stance as reassurance to business leaders and emphasized the need to remain business-friendly to generate revenue and jobs. The combined developments indicate limited appetite for sweeping socialist policies.
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