"He’s put a pretty extreme option on the table, which is a combination of raising property taxes and taking money from reserves and relying on some pretty aggressive revenue projections to boot," said NYC Comptroller Mark Levine.
The pitch, set to be unveiled Tuesday afternoon during Mamdani’s preliminary budget proposal, comes one day after Governor Kathy Hochul vowed to kick in another $1.5 billion in additional aid to the city for the current fiscal year and next. Hochul has also committed $510 million for future years to help plug holes in the budget.