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Zohran Mamdani: “The second part of the tax plan, which would raise $4…”

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

New York City Mayoral Candidate Zohran Mamdani Discusses Housing, Public Goods, and Economic Policies on Odd Lots Podcast

Published May 23, 2025 | Video Starts at 29:38

That's a tax that applies to the topmost level of profitable corporations. We're talking about their profits, millions of dollars, and it would raise $5 billion just in doing so. The second part of the tax plan, which would raise $4 billion, would be to increase New York City's income tax rate on the top 1% of income earners. We're talking about people who make a million dollars or more a year by a flat 2% increase. (29:38–29:47)

CLAIM

Asserts that increasing the income tax rate on the top 1% would raise $4 billion.

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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“The time it takes to fill a vacant unit in NYCHA now exceed more than a year.”
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“The mayor sets the rent increases for more than 2 million New Yorkers who live in rent stabilized housing.”
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“He's raised [rents] more than 9%.”
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“The City of New York under Eric Adams administration sided with Walmart in support of Con Edison's request to raise those rates by $65 a…”
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“The city...sees its budget increase by 2 to 3 billion dollars.”
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“The rent guidelines had that findings of the 12% increase in revenue for those landlords.”
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“Woodside Houses, which is a NYCHA development, is piloting a large scale installation of heat pumps.”
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“We will create a Department of Community Safety, the DCS, which understands that police have a critical role to play in public safety.”
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“We are currently relying on [police] to respond to almost every single failure of the social safety net.”
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“We can see that in their inability to raise their clearance rates of the major seven categories of crime.”
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