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Report: Mamdani's Tax Plans Could Exacerbate NYC Exodus

  • New York City Mayoral Frontrunner Zohran Mamdani's tax plans might lead to top earners leaving the state, according to a report by the Empire Center.
  • Mamdani intends to implement a wealth tax for households making over $1 million and increase corporate taxes, potentially generating an additional $9 billion per year for the city.
  • The report suggests that half of the state's top earners could save significant amounts by relocating to states like New Jersey and Florida.
  • Governor Kathy Hochul faces pressure to balance Mamdani's proposals while maintaining her stance against new income taxes, which could affect her re-election chances.
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Report: Mamdani's tax plans could exacerbate NYC exodus

(The Center Square) — New York City mayoral frontrunner Zohran Mamdani's plans to tax the city's wealthiest to fund his policy initiatives could drive top earners out of state, according to a new report by a watchdog.

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New York Post broke the news in New York, United States on Friday, October 31, 2025.
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