Based on the provided text,Mamdani argues there is room to support his priorities because his program would generate an additional $9 billion in tax revenue. This would be achieved by:
* Increasing the tax rate for New york’s richest taxpayers (those earning over $1 million) by two points.
* Raising the corporate tax rate from 7.5% to 11.5%.
However, the text also highlights that this tax increase still needs legislative approval and faces opposition from within the Democratic party, specifically from Governor Kathy Hochul, despite her previous support for mamdani.
The text further details how opponents, like Cuomo, are framing Mamdani’s policies as detrimental to New York‘s economy and perhaps leading to a crisis, but Mamdani’s supporters see his potential victory as a positive step for the Democratic party and a potential turning point against Trump’s influence.
