00:00Martin, several lawmakers have said that higher taxes are basically inevitable because of federal cuts to health care and food aid under President Trump's new mandates, new budget laws.
00:11Where does that leave what Mamdani is proposing and what Andrew Cuomo says he will do for the city?
00:17Well, it's going to make Mamdani's proposals harder to get through the legislature.
00:22The state is facing a seven and a half billion dollar budget deficit.
00:26You have the cuts from the one big beautiful bill.
00:43But what Mamdani is proposing is a huge tax increase and it needs Albany's blessing in order to get through.
00:50He wants to raise the corporate state's corporate tax by four percentage points that would bring it to the level of New Jersey, which is, I think, the highest in the U.S.
00:59And he wants to raise the income tax for New York City residents who make over a million by two percentage points, which is four times what de Blasio had proposed.
01:09So his plan, he, you know, he bases his plan on raising taxes, but he can't just unilaterally raise taxes.
01:17He has to get Albany's approval.
01:19And with all of these, you know, with the strains that they're facing, it's going to be tougher for him to, you know, to get anything.
01:26And this is something that Andrew Cuomo has pointed out time and again, that the governor would need to approve this.
01:30And it's not just so simple to raise taxes and have people stay.
01:35How come that is not denting his popularity among voters?
01:38Well, I mean, I think, you know, this campaign has been, you know, it's been...
01:45Lives.
01:45It's been personality.
01:46Yeah, he's got a, you know, great personality.
01:49He's great on social media, apparently.
01:52And they don't really get into the details.
01:54You know, when he says he wants to raise taxes on the rich, he doesn't say that he's going to need Albany's approval.
02:00And it just, you know, it sounds really easy and great for a lot of people, but it's, you know, obviously it's not that easy.
02:10It won't be easy for him.
02:11But I think, you know, a lot of people don't get that down.
Be the first to comment