‘How We Will Do It’: Mamdani Dodges Question on Funding His Main Campaign Promise

Mayor-elect’s Plans for NYC Transit Funding Stir Debate

New York City’s newly elected Mayor Zoran Mamdani, a Democrat, has yet to clearly outline how he intends to finance government-run buses unless Governor Kathy Hochul agrees to raise taxes.

Hochul is under pressure from progressive factions regarding the funding of Mamdani’s initiatives, while also standing against tax increases for affluent New Yorkers. During an interview with PIX, Mamdani did not present any initial strategies for how to cover the bus insurance costs, which are estimated to be around $800 million annually.

“If she… how does the MTA get that money, $700 million to make buses free?” asked PIX’s Dan Mannarino. “Isn’t it because of the tax increase?”

Mamdani responded, stating, “You know, I think the two most obvious ways to raise that money is through fundraising. We will raise the state’s corporate tax to the maximum amount in New Jersey.”

“But she said no,” Mannarino added, highlighting the ongoing tensions.

Mamdani emphasized that tax hikes are a crucial method for funding his bus initiative, without delving into other financing options. “I think many of these issues still have room for resolution. Whether it’s corporate tax or personal income tax for people earning over a million, I think these are the most obvious ways to go if you’re looking at more than $100 per year.” He added that it doesn’t really matter how the money is raised, as long as it gets done.

The mayor-elect has ambitious plans that include establishing government-operated grocery stores, implementing universal childcare, instituting a rent freeze on stable apartments, and creating a community safety department that would send social workers rather than police officers to handle non-violent 911 calls. However, he also did not clarify his funding strategies for these socialist policies during a recent interview on Morning Joe.

Mamdani’s advocacy for initiatives such as the “seizure of the means of production” has been evident since 2021 when he spoke at the Young Democratic Socialists of America. He enjoys the backing of Democratic Socialists, including figures like Rep. Alexandria Ocasio-Cortez and Sen. Bernie Sanders.