New York City Mayor announces tax hikes and pension fund measures amid budget deficit
New York City Mayor and socialist Zokhran Mamdani announced that he is compelled to raise property taxes and withdraw funds from the pension fund to eliminate the budget deficit.
According to him, these actions are essential to stabilize the city’s financial situation and ensure commitments to citizens are met. Currently, there are no alternative ways to restore budget balance.
Moving forward, such measures may provoke public discontent; however, the city administration intends to continue exploring additional financial recovery options.
