First 100 Days

Mayor Mamdani held a press conference detailing a $12 billion budget deficit over fiscal years 2026 and 2027, blaming former Mayor Eric Adams for fiscal mismanagement. Mamdani called for a 2% income tax on millionaires and raising the corporate tax rate to 11.5%, stating the deficit cannot be resolved through efficiencies alone. A preliminary budget will be delivered on February 17.