State Meeting Speaker Carl Heastie, at an endorsement rally for mayoral frontrunner Zohran Mamdani, mentioned Wednesday he’ll work with the democratic socialist to spice up taxes on New York’s wealthiest residents, organising a possible showdown in Albany with Gov. Kathy Hochul.
Hochul, who’s going through a troublesome path to re-election in 2026, has mentioned a tax hike on the wealthy is a nonstarter for her subsequent yr, regardless that she endorsed Mamdani simply days in the past. Tax charges are set by the state, so Mamdani can’t himself make wealthier New Yorkers pay extra if he’s elected mayor, however the help from Heastie, some of the highly effective politicians in Albany, is important.
“Millionaire taxes poll extremely well,” Heastie mentioned from the Northeast Bronx YMCA on Wednesday morning, showing alongside Mamdani to formally endorse his mayoral marketing campaign. “I do think there will be a robust discussion on revenue raises next year.”
The looming battle factors to a key problem Mamdani is more likely to face over his plans to fund his affordability agenda by rising taxes on New Yorkers making $1 million by an extra 2% and boosting the state’s company tax charge to 11.5%. Mamdani’s agenda contains proposals to freeze the hire for stabilized tenants within the metropolis, dramatically develop free little one look after all New Yorkers and make public buses free.
Heastie mentioned he’s seeking to work with Mamdani on “all of the above” gadgets on his agenda, together with free buses and common childcare, and that he anticipated the governor’s help, too.
Mamdani’s give attention to affordability has resonated with New Yorkers. A latest ballot by Marist College discovered that 88% of New Yorkers assume town is both “not very affordable” or “not affordable at all.” Simply 12% of residents mentioned they imagine town is inexpensive.
On the identical time, Mamdani’s proposed tax hikes have sparked sturdy pushback in New York’s enterprise group.
In Albany, Heastie and State Senate Majority Chief Andrea Stewart-Cousins have constantly backed tax hikes on millionaires. Along with Hochul, they’re extremely influential in charting the state funds deliberations every year.
“I’m not anticipating a fight, and I’m sure those are things that Zohran and the governor have spoken about and I’m sure we’ll figure it out,” Heastie mentioned.
Zohran Mamdani stands with Meeting Speaker Carl Heastie at a information convention within the Bronx the place he was endorsed by Heastie on Wednesday in New York Metropolis. (Spencer Platt/Getty Photos)
For his half, Mamdani has mentioned he’s prepared to compromise on points of his agenda to get them handed, together with by decreasing the millionaire tax hike from 2% to 1%.
“If there are other means by which to find that revenue, the most important thing is what we fund, not how we fund,” he mentioned Wednesday.
Hochul has voiced opposition to new tax hikes on the state’s richest residents. The governor endorsed Mamdani in a chunk within the New York Occasions Sunday, the place she didn’t point out Mamdani’s tax plan, however mentioned she reserves the suitable to disagree with him regardless of backing his candidacy.
Requested for touch upon Heastie’s remarks, a spokesman for Hochul referred to remarks the governor made to reporters Tuesday wherein she reiterated that stance.
“No,” the governor mentioned within the Tuesday remarks in response to a query about whether or not she backs tax hikes now that she has endorsed Mamdani. “There were certain areas where I said I disagree with him. I will always continue to reserve the right to disagree. This does not mean I’ve changed who I am.”
Zohran Mamdani attends a information convention within the Bronx the place he was endorsed by Meeting Speaker Carl Heastie on Wednesday in New York Metropolis. (Spencer Platt/Getty Photos)
After Heastie’s remarks, a spokesman for Stewart-Cousins, the state Senate’s prime Democrat, mentioned she’s on the identical web page because the speaker when it comes to supporting a brand new millionaires’ tax.
The spokesman famous that, like her counterparts within the Meeting, Stewart-Cousins and her Democratic colleagues have for years included millionaire tax hike provisions of their one-house funds proposals, however these by no means went anyplace because the governor shot every of them down.
Initially Printed: September 17, 2025 at 1:17 PM EDT
