Zohran Mamdani, the Democratic nominee for New York City mayor, has proposed significant tax changes to fund his progressive initiatives. These include free bus travel, universal childcare, rent freezes, and publicly owned grocery stores.
To finance these programs, Mamdani suggests a 2% income tax on individuals earning over $1 million annually. He also proposes raising the top corporate tax rate from 7.25% to 11.5%.
If elected, Mamdani would be the first Muslim and Indian-American mayor of New York City. He will face incumbent Eric Adams, Republican Curtis Sliwa, and independent candidate Jim Walden in the November 2025 general election.