Mayor Zohran Mamdani laid out a preliminary budget proposal on Tuesday with two options for addressing the city’s $5.4 billion shortfall.
The first is one of his major campaign promises: to raise taxes on wealthy New Yorkers and corporations. But without Gov. Kathy Hochul on board, Mamdani also floated a Plan B – raising property taxes and dipping into the city’s reserves.
First Deputy Mayor Dean Fuleihan and Budget Director Sherif Soliman joined NY1’s Ayana Harry on “Inside City Hall” Tuesday to discuss more.
Tap the video player above to watch the interview.