New York may be closer to raising taxes on the wealthy and corporations than at any point since Mayor Zohran Mamdani took office.
Tuesday’s primaries gave the mayor more leverage in Albany, and a new poll shared exclusively with Crain’s shows the majority of New York City voters agree with his call to tax the rich.
The 5 Borough Barometer, conducted by Honan Strategy Group from June 12 to 17, found that 56% of likely New York City general election voters believe wealthy residents and corporations should pay more in taxes to help make the city more affordable for others.
The poll was taken before Mamdani’s candidates won big this week, but after he spent his first budget season as mayor pressing Gov. Kathy Hochul to raise taxes. He emerged with only part of what he wanted: a pied-à-terre tax on expensive second homes.
Mamdani’s broader proposals did not make the cut. Hochul blocked income and corporate tax hikes, as well as other levies backed by progressive lawmakers, including a proposed 1% tax on real estate deals involving more than $1 million in cash.
But Mamdani’s endorsed congressional candidates swept three closely watched primaries on Tuesday, giving him a show of force that his political might is not to be taken lightly, meaning he now has more negotiating power with the governor.
The mayor also endorsed five state legislative candidates in the primary, all of whom won, as did other DSA-backed candidates, adding voices in the legislature who will press Hochul to increase taxes next year.
Hochul may also be in a different position then. She is up for re-election this year and has political incentives to avoid raising taxes as that could alienate suburban and moderate voters. But by next years’ budget cycle, she will no longer be facing the same electoral pressure.
The Honan poll’s findings are consistent with earlier polling showing support for higher taxes.
Also working in Mamdani’s favor: A separate Siena poll released Thursday showed 54% of voters statewide identified the cost of living as the most important issue facing New York, while 77% named it as one of their top two issues.
The same Siena poll found Mamdani’s standing is improving with New Yorkers. His statewide favorability rose to 45% favorable and 34% unfavorable, up from 43%-40% in April. In New York City, his favorability rose to 58%-26%.
There are still warning signs for the mayor. The Honan poll found that 83% of voters said job growth is a serious problem in New York City, while 66% said it is important for the city to actively compete with other states and cities to attract businesses and jobs — something raising taxes does not typically do.
But the path to a tax hike is clearer than it was a year ago. The idea is popular with city voters, the cost of living remains New York’s dominant political issue, the bloc of lawmakers willing to push Hochul from the left just got bigger, and Mamdani’s political might has never been stronger.
Crain’s New York Business: New York is hungry for taxing the rich: poll
By Jack Grieve | Original Article
New York may be closer to raising taxes on the wealthy and corporations than at any point since Mayor Zohran Mamdani took office.
Tuesday’s primaries gave the mayor more leverage in Albany, and a new poll shared exclusively with Crain’s shows the majority of New York City voters agree with his call to tax the rich.
The 5 Borough Barometer, conducted by Honan Strategy Group from June 12 to 17, found that 56% of likely New York City general election voters believe wealthy residents and corporations should pay more in taxes to help make the city more affordable for others.
The poll was taken before Mamdani’s candidates won big this week, but after he spent his first budget season as mayor pressing Gov. Kathy Hochul to raise taxes. He emerged with only part of what he wanted: a pied-à-terre tax on expensive second homes.
Mamdani’s broader proposals did not make the cut. Hochul blocked income and corporate tax hikes, as well as other levies backed by progressive lawmakers, including a proposed 1% tax on real estate deals involving more than $1 million in cash.
But Mamdani’s endorsed congressional candidates swept three closely watched primaries on Tuesday, giving him a show of force that his political might is not to be taken lightly, meaning he now has more negotiating power with the governor.
The mayor also endorsed five state legislative candidates in the primary, all of whom won, as did other DSA-backed candidates, adding voices in the legislature who will press Hochul to increase taxes next year.
Hochul may also be in a different position then. She is up for re-election this year and has political incentives to avoid raising taxes as that could alienate suburban and moderate voters. But by next years’ budget cycle, she will no longer be facing the same electoral pressure.
The Honan poll’s findings are consistent with earlier polling showing support for higher taxes.
Also working in Mamdani’s favor: A separate Siena poll released Thursday showed 54% of voters statewide identified the cost of living as the most important issue facing New York, while 77% named it as one of their top two issues.
The same Siena poll found Mamdani’s standing is improving with New Yorkers. His statewide favorability rose to 45% favorable and 34% unfavorable, up from 43%-40% in April. In New York City, his favorability rose to 58%-26%.
There are still warning signs for the mayor. The Honan poll found that 83% of voters said job growth is a serious problem in New York City, while 66% said it is important for the city to actively compete with other states and cities to attract businesses and jobs — something raising taxes does not typically do.
But the path to a tax hike is clearer than it was a year ago. The idea is popular with city voters, the cost of living remains New York’s dominant political issue, the bloc of lawmakers willing to push Hochul from the left just got bigger, and Mamdani’s political might has never been stronger.
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