New York City Mayor Zohran Mamdani is releasing the city's preliminary budget, and he blames the $5.4 billion budget gap on his predecessors. Let's see if a socialist can manage money better than decades of Democrats. Mamdani claims there are only two paths to take to address the budget gap, and he knows which path he favors.
Today, I’m releasing the City’s preliminary budget. After years of fiscal mismanagement, we’re staring at a $5.4 billion budget gap — and two paths.
— Mayor Zohran Kwame Mamdani (@NYCMayor) February 17, 2026
One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between…
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… our city and state. The other, a last resort: balance the budget on the backs of working people using the only tools at the City's disposal. The first path matches a structural crisis with a sustainable and fair solution. I know where I stand. New Yorkers voted for bold change and competent leadership. We will deliver both, and we look forward to partnering with Albany to protect working New Yorkers.
What a shock. His plan is for the entire state to raise taxes on not millionaires or billionaires, but the "ultra-wealthy" (whatever that means) and the most profitable corporations. Is it possible there's a third path he's not seeing? Maybe cut spending?
Enjoy the shrinking tax base.
— Matthew Kolken (@mkolken) February 17, 2026
— The Dank Knight 🦇 (@capeandcowell) February 17, 2026
Wow. Is it possible that Zohran Mamdami is as bad as Tim Walz?
— Minnesota Staff Fraud Reporting Commentary (@Minnesota_DHS) February 17, 2026
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$5 billion you say? pic.twitter.com/oshpRDFPD2
— 🐺 (@LeighWolf) February 17, 2026
In other words, you saw the bill for socialism.
— Mike Merc (@mikemerc57) February 17, 2026
Wait are the food and bus rides still free?
— MAZE (@mazemoore) February 17, 2026
I WANT MY FREE BUS RIDE ZOHRAN.
— American AF 🇺🇸 (@iAnonPatriot) February 17, 2026
How exactly is infinitely raising taxes on an ever widening and broadening definition of “ultra wealthy” going to be a “sustainable and fair” solution?
— Autism Capital 🧩 (@AutismCapital) February 17, 2026
Or option 3: Stop wasteful spending and ripping off the people through fraudulent programs designed for kickbacks and lower taxes.
— Clinton (@614clinton) February 17, 2026
Or, he could do what responsible adults do when they face a shortfall - -tighten their belts. NYC has a spending problem.
— Lisa (@politeracy) February 17, 2026
I don’t think free grocery stores and lawyers for illegals was as popular as you thought it’d be.
— David Santa Carla 🦇 (@TheOnlyDSC) February 17, 2026
A classic presentation of a false choice. You could spend less, you could incentivize business to increase the top line. But you don't propose these because your power comes from class envy.
— Curtis Johnson (@cjohnson999) February 17, 2026
Balance your own budget vs asking the state tax payers to bail you out. Wait, you have never had a real job. Oh.
— Greg Lapointe (@LakeFarmRiver) February 17, 2026
You’re the mayor of a city, not a state. You don’t get to tell New York or Albany what to do.
— We The Translators (@RyGuyFly25) February 17, 2026
Democrats and socialists could always try and spend less money. That’s always an option…
— TheVesuvian (@TheVesuvian) February 17, 2026
But it's going to cost a lot of money to come through with all of the free stuff Mamdani promised during his campaign. He's already looking to Albany to bail the city out?
JUST IN: "We are forced to raid the rainy day fund, the retiree health benefits trust reserve, and to increase property taxes" — NYC Mayor Mamdani pic.twitter.com/LenWB0zCNl
— Polymarket (@Polymarket) February 17, 2026
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Editor’s Note: Zohran Mamdani is an avowed Democratic Socialist and the mayor of New York City.
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