From the New York Post: Gov. Hochul is reportedly open to raising taxes on corporations in the Empire State to help fund socialist Mayor-elect Zohran Mamdani’s freebie-filled agenda for New York City.
Hochul, who is up for re-election in 2026, is sticking to her vow to not hit high-earners with higher taxes — but has had preliminary conversations about raising revenue by upping the corporate tax rate, according to Politico, which first reported the story.
The hike would help fill the more the $4 billion budget gap facing the state next year and cover some of the costs associated with Mamdani’s socialist dream in the Big Apple once he becomes mayor, according to Bloomberg.
It could mark a notable shift for Hochul, who has repeatedly said that she would not raise taxes when pressed by the far-left faction of the party that helped propel Mamdani into office.
Just two weeks ago, Hochul said on a podcast with host Jessica Tarlov that she was concerned wealthy New Yorkers would simply flee the state if Mamdani’s “tax the rich” plan was implemented.
However, she is now reportedly open to hiking taxes on corporations. It is unclear if she has considered whether the corporations will simply flee the state as well if they are gouged with more taxes.
Fresh off being ranked dead last in competitiveness once again & the Governor is discussing a corporate tax increase?! Other states are recruiting our businesses and residents. The Hochul administration is holding the door open.
Hochul’s taxing times https://t.co/weZKCtGcRO
— Assemblyman Ed Ra (@EdwardRa19) November 14, 2025
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