{"id":182468,"date":"2026-04-01T18:52:11","date_gmt":"2026-04-01T18:52:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/182468\/"},"modified":"2026-04-01T18:52:11","modified_gmt":"2026-04-01T18:52:11","slug":"albanys-tax-the-rich-lefties-dealt-blow-over-nyc-councils-budget-alternative","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/182468\/","title":{"rendered":"Albanys ‘tax the rich’ lefties dealt blow over NYC Council’s budget alternative"},"content":{"rendered":"

ALBANY \u2013 Lefty pro \u201ctax the rich\u201d lawmakers in Albany were feeling pretty poor Wednesday after the New York City Council released an alternative to Mayor Zohran Mamdani\u2019s budget \u2014 and it doesn\u2019t rely on a tax increase.<\/p>\n

The liberal pols \u2014 who already blew their own April 1 budget deadline \u2014 have been committed to filling the $5 billion gap in Mamdani\u2019s spending plan with some sort of tax increase, most likely corporate taxes<\/a>, The Post reported earlier this week.<\/p>\n

Follow live updates on Mayor Zohran Mamdani\u2019s socialist agenda and the latest in NYC politics<\/a><\/p>\n

But Mamdani and his cronies were dealt a blow Wednesday by Big Apple City Council Speaker Julie Menin, whose camp laid out a proposal that would close the gap by rejiggering spending and revenue estimates along with $2 billion in savings, thus negating the need for Albany to approve tax hikes.<\/p>\n

\"MayorLefty pro \u201ctax the rich\u201d lawmakers in Albany were feeling pretty poor Wednesday after the New York City Council released an alternative to Mayor Zohran Mamdani\u2019s budget. Stephen Yang for NY Post<\/p>\n

\u201cThat\u2019s a good thing,\u201d state Assemblyman Charles Fall (D-Staten Island) told The Post of the council\u2019s plan, claiming that tax increases aren\u2019t needed to balance the city budget.<\/p>\n

\u201cI don\u2019t think there\u2019s a need to raise taxes.<\/p>\n

\u201cPeople are complaining about wasteful spending under the prior administration. Well, what is being done about it?\u201d Fall said.<\/p>\n

\"CouncilBig Apple City Council Speaker Julie Menin laid out a proposal that would close the gap by rejiggering spending and revenue estimates along with $2 billion in savings, thus negating the need for Albany to approve tax hikes. Robert Miller for NY Post<\/p>\n

Lawmakers left Albany for the week far from a deal on the state budget.<\/p>\n

Gov. Kathy Hochul has signaled in recent weeks that she would not chip in more state resources to the city than she\u2019s committed already \u2013 $1.5 billion in addition to billions of dollars of new spending, such as on childcare.<\/p>\n

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\u201cNow it\u2019s up to the City Council,\u201d Hochul said earlier this month.<\/p>\n

To help reap more dough, Hochul has proposed an extension of the 7.25% statewide corporate tax on businesses making more than $5 million for three years, but both the state Assembly and Senate have called for increasing it.<\/p>\n

On the campaign trail, Mamdani called for hiking the corporate tax to 11.25%, but in Albany this year, he is pushing for smaller hikes of the city\u2019s rate.<\/p>\n","protected":false},"excerpt":{"rendered":"ALBANY \u2013 Lefty pro \u201ctax the rich\u201d lawmakers in Albany were feeling pretty poor Wednesday after the New…\n","protected":false},"author":2,"featured_media":182469,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[4241,7739,14927,19077,426,57,9,56,63,65,64,87,4281,2780,58,82],"class_list":{"0":"post-182468","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-albany","9":"tag-budget","10":"tag-city-budget","11":"tag-julie-menin","12":"tag-kathy-hochul","13":"tag-metro","14":"tag-new-york","15":"tag-ny","16":"tag-nyc","17":"tag-nyc-headlines","18":"tag-nyc-news","19":"tag-politics","20":"tag-state-budget","21":"tag-taxes","22":"tag-us-news","23":"tag-zohran-mamdani"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/182468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=182468"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/182468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/182469"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=182468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=182468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=182468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}