Plan A: Tax the ultra-wealthy. Plan B: a drastic "last resort." Choose wisely, Gov. Hochul.

New York City Mayor Zohran Mamdani on Tuesday unveiled his $127 billion preliminary budget proposal for fiscal year 2027. In response, Invest in Our New York Campaign Manager Brahvan Ranga released the following statement:

“Mayor Mamdani was elected with a mandate to enact his wildly popular affordability agenda, which can only become a reality if we make the wealthiest New Yorkers and most profitable corporations pay their fair share in taxes. Statewide polling shows broad public support — across party lines, both downstate and upstate — for making the ultra-wealthy pay what they owe to ensure high-quality social services and a more affordable New York.

“It is now up to the governor and state legislature to deliver a state budget that reflects the will of the people and delivers essential services that New Yorkers desperately need. This means not only addressing New York City’s dire fiscal crisis, but also replacing the billions of dollars in healthcare and food assistance stolen by the federal budget scam and generating stable recurring revenue for vital public programs across the state, including truly universal childcare. 

“During his budget presentation today, the mayor correctly argued that hiking property taxes and drawing down the city’s reserves to close a $5.4 billion deficit is a drastic ‘last resort’ — and while Gov. Hochul’s earmarking of an additional $1.5 billion in state aid is a promising first step, it’s nowhere near enough. The governor must decide whether she stands with working-class New Yorkers or her corporate donors. The clock is ticking.”

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