Hochul forks over another $4B to bail out Mamdani’s NYC budget woes as she faces intense election pressure

Source: New York Post

Mayor Zohran Mamdani on Tuesday is set to finally unveil his executive budget for New York City  — without the property tax increase he warned could be necessary if his “tax the rich” dreams evaporated. Insiders revealed that Mamdani backed away from his months-old threats to impose a nearly 10% property tax hike and drain the city’s reserves to help close a reputed $5. 4 billion budget gap.