Mamdani asks New York State to raise taxes on ‘ultra-wealthy’ to address city budget deficit
The Hill
by Sarah DavisFebruary 18, 2026
New York Mayor Zohran Mamdani (D) asked Democratic Gov. Kathy Hochul to raise taxes on the “ultra-wealthy,” citing a “significant chasm” in the city’s $5.4 billion deficit. During a preliminary budget proposal announcement on Tuesday, Mamdani laid out two different “paths” the city could take to address the deficit concerns. The first and “most sustainable and…
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Originally published on The Hill on 2/18/2026