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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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11 Articles
11 Articles
Hochul admits socialist Mamdani's 'tax the rich' plan would hurt NY's middle class: 'I cannot do that'
Gov. Hochul appears to be twisting herself in knots to cater to the demands of mayoral front-runner Zohran Mamdani’s “tax the rich” base, while clinging to her vow not to hit New Yorkers’ wallets.
·New York, United States
Read Full ArticleReport: Mamdani's Tax Plans Could Exacerbate NYC Exodus | Headline USA
(Chris Wade, 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. The Empire Center’s report looked at Mandani’s plans to set a new wealth tax on households making more than $1 million per year and increase corporate taxes to help fund his signature plans to provide free community colle…
Coverage Details
Total News Sources11
Leaning Left0Leaning Right3Center1Last UpdatedBias Distribution75% Right
Bias Distribution
- 75% of the sources lean Right
75% Right
C 25%
R 75%
Factuality
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