New York Governor Kathy Hochul was met with deafening chants of “tax the rich” by her supporters at a rally on October 26 at the Forest Hills neighborhood of Queens, where Zohran Mamdani was hosting a campaign event. Hochul responded loudly at the time, saying, “I hear you all!” The following day, Hochul seemed to be trying to regain ground by pledging to uphold her commitment to not let New Yorkers’ wallets suffer.
In a podcast episode this week, Hochul admitted that she did not want to see the wealthiest New Yorkers leave the state and acknowledged that she could not make up for the losses of the middle class by raising income taxes.
“I’m worried that those who support our budget will leave,” Hochul said on October 27 on the “Raging Moderates” YouTube podcast while discussing the top 1.5% income group, “I can’t make up for this by raising taxes on the middle class, I can’t let the middle class and struggling New Yorkers endure such pain. So, this is my balance – I mean, this is my stance.”
Progressive federal Senator Bernie Sanders and Congresswoman Aleandria Ocasio-Cortez were also present at the rally.
In budget negotiations over the past few years, Hochul has consistently opposed taxing the rich but openly supported Mamdani in September. She expressed agreement with the socialist’s costly agendas such as “universal childcare” and “free public transportation,” while also needing to address the billions of dollars in financial cuts from the federal government to New York.
Recently, the federal government shutdown threatened benefits such as SNAP (food stamps), and Hochul allocated an additional $30 million to cover the gap. The future three-year budget of Albany also faces a $27 billion shortfall – all of which are making Hochul increasingly challenged.
“I said there would be no new income tax. I’m looking for ways to fund projects I care about, such as universal childcare,” she said at a meeting on Thursday, “We are creative in state government. We will find ways to achieve our goals.”
Hochul’s attempts to please everyone have drawn criticism from Republican lawmakers.
“Governor Hochul can’t pretend to be a fiscal moderate while continuing to cater to the far left,” Republican Congressman Mike Lawler told the New York Post on Friday, “Her so-called ‘innovative’ funding proposals amount to higher taxes, more spending, and fewer job opportunities.”
Republicans criticize that New York state has become the place with the highest tax burden and cost of living in America.