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Zohran Mamdani: “New Jersey has a top corporate tax rate of 11.5%. New York…”

Featuring: Zohran Mamdani, Democratic | Mayor of New York City

Unintelligible Transcript with Repeated Speaker B Labels

Published June 9, 2025 | Video Starts at 02:18

The first is to take the most profitable corporations in the state of New York and tax them at the same rate that they're taxed in New Jersey. New Jersey has a top corporate tax rate of 11.5%. New York has one of 7.25%. If you just match New Jersey, that raises $5 billion a year that pays for free buses seven, eight times over. (02:18–02:25)

CLAIM

Asserts that New Jersey's top corporate tax rate is 11.5%, while New York's is 7.25%.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Zohran Mamdani

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“There are about 24,000 units today at the very least, that are being what's called warehoused, kept off the market.”
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“We have a vacancy rate of close to 1%.”
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“Ridership went up by up to 38% [from the fare-free bus pilot].”
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“Assaults on bus drivers went down by 38.9% [from the fare-free bus pilot].”
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“Since 2014, there have been around 3,500 instances of New Yorkers being preyed upon [through deed theft].”
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“In the same period of time where 30,000 white New Yorkers moved in, 22,000 black New Yorkers moved out [of Bed Stuy].”
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“200 officers are leaving a month, nearly a quarter are thinking of leaving, and one of the leading reasons is forced overtime.”
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“Oregon took mental health response out of the police department, handling 20% of calls elsewhere.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 28:04-28:08
“In New York City, police answer 500 mental health calls a day, 200,000 a year.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 28:16-28:22
“We're only solving less than 40% of all crimes [in New York City].”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 28:23-28:27
“The State assembly is basically like a state version of Congress. So we have 150 members, each of whom represent about 130,000 people.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 00:26-00:34
“I represent 130,000 people or so in Astoria and Long Island City in Queens.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 00:33-00:38
“If you just match New Jersey, that raises $5 billion a year that pays for free buses seven, eight times over.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 02:24-02:33
“The second tax that we would raise is on the personal income tax of the top 1% of New Yorkers.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 02:33-02:40
“We raised $4 billion a year in new taxes and we have more millionaires now.”
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“In Kansas, they have a model of a municipal owned grocery store. It has been a successful model.”
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“In Chicago, they did a feasibility study to see could this apply to an urban setting. They found that it was not only feasible but also…”
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“The city's set to give those same supermarkets $140 million in subsidies.”
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“This proposal costs less than half. 60 million would open up one city owned grocery store in each borough.”
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“The mayor determines whether the rent increases for more than 2 million New Yorkers every year through a thing called the Rent Guidelines…”
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“The mayor we have now, he raised it 9%.”
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“Andrew Cuomo went to the Real Estate Board of New York and apologized for some of the most important tenant legislation that's been passed…”
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“He just got a $250,000 check from the guy who started RFK Jr super PAC.”
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“These are the people who are funding what is now more than a 9, $10 million super PAC.”
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“The de Blasio administration froze the rent three times in its admin.”
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“The average debt that a driver had was $550,000.”
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“Nine drivers had taken their own lives.”
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“On November 3, 2021, we won $450 million in debt relief for these taxi drivers.”
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“We took away the ability for these lenders to take these drivers homes if they reneged on the deal.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 14:11-14:17
“I fought and won the largest investment in modern Albany history in better subway service, bus service, a reduced fare hike, and the first…”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 14:38-14:50
“I made one bus route free in each borough of New York City.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 14:49-14:53
“The most significant increase [in ridership] came from New Yorkers making $28,000 a year or less.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 15:04-15:09
“There was actually a poll done by the Jewish Action Network that found that I'm in second place with Jewish voters across New York City.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 20:13-20:21
“One of the hearts of [deed] theft is Bed Stuy.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 23:34-23:36
“We will create the Office of Deed Theft Prevention.”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 23:56-24:00
“Put $10 million towards hiring lawyers and analysts to actually pursue people who are trying to prey upon our elder and vulnerable New…”
Unintelligible Transcript with Repeated Speaker B Labels | Uploaded June 9, 2025 | 24:01-24:11
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“Jonathan Rivera, who is still on the force, was recommended for dismissal by the same judge that recommended Daniel Pantaleo's dismissal.”
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“I've been in second place for about three months, and now we've cut that final round lead down to less than nine.”
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