Gov. Kathy Hochul has admitted socialist mayoral frontrunner Zohran Mamdani’s “tax the rich” plan would hurt middle class New Yorkers — as she insisted she has zero plans to hike taxes.
Hochul doubled down on her tax stance after she was bombarded with “tax the rich” chants when she appeared at Mamdani’s campaign rally over the weekend.
The governor told the “Raging Moderates” podcast earlier this week that she was concerned the 1.5% of wealthy New Yorkers who would be effected by Mamdani’s plan would just flee the Empire State.
“1.5% of New Yorkers cover about a third of our budget — that’s enormous. I’m concerned about out-migration of people of the ones who are supporting our budget,” she said.
“I cannot make up for that with middle-class tax increases. I cannot do that to the middle class and the struggling New Yorkers.”
Hochul insisted that the heckles from Mamdani supporters wasn’t enough to sway her position — despite endorsing him for mayor.
“I will say one energetic rally does not get me to change my positions. I assure you,” Hochul said.
“But I do hear people’s voices, I process what everybody says, but I also have to balance governing this state and making sure that those people who are actually the reason we have a generous supportive budget that helps lift people up, it’s their revenues that we tax.”
Hochul held off on endorsing Mamdani’s mayoral bid for several months over the socialist’s tax-the-rich policies.
She has since repeatedly signaled she would try to block a tax hike in Albany, which is the only feasible way Mamdani could actually finance his promise to raise taxes on corporations and the ultra-wealthy.
