"Mayor Zohran Mamdani made plenty of promises on the campaign trail last year that led to his election with fast, fare-free buses and free universal childcare being among the biggest pledges to New York voters. These programs, Mamdani argued, would largely be supported by a push to increase taxes on the wealthiest New Yorkers. This was necessary, he said, to provide the revenue needed to deliver on those promises and help level the economic playing field for New Yorkers."
"The CBC appealed to the mayor to manage the city's finances pragmatically not with austerity or preserving the status quo, but rather by embracing a pursuit of efficiency and excellence at City Hall through a plan that emphasizes recurring savings driven by productivity, service redesign, and evidence-based impact. It shouldn't be that difficult to streamline city management and ensure high-quality services for all, given the massive $118 billion budget approved last year."
Mayor Zohran Mamdani campaigned on fare-free buses and universal childcare funded largely by higher taxes on the wealthiest New Yorkers. He argued increased taxes would provide revenue to deliver promises and level the economic playing field. The “tax the rich” approach has strong emotional appeal but can produce unintended economic consequences. The Citizens Budget Commission warned that tax increases would weaken competitiveness and drive businesses and residents away, and urged pragmatic financial management focused on recurring savings, productivity, service redesign, and evidence-based impact. New York operates a $118 billion budget and faces a roughly $7 billion gap that tax hikes alone will not erase.
Read at www.amny.com
Unable to calculate read time
Collection
[
|
...
]