Mayor-Elect Zohran Mamdani Pledges Ambitious Affordability Agenda for New York City

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering the USA

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Image Source: Jeenah Moon/Reuters

New York City mayor-elect Zohran Mamdani vowed to launch one of the most ambitious affordability programs in the city’s modern history, outlining sweeping proposals to make living in the five boroughs more accessible for working families.

Speaking on ABC’s “Good Morning America” Wednesday, Mamdani said his administration’s top priorities will include free public buses, expanded childcare access, and a citywide rent freeze. He described the plan as a mandate from voters to tackle the growing affordability crisis head-on.

“What New Yorkers across the five boroughs gave us last night was a mandate to pursue the most ambitious affordability agenda this city has seen since the days of Fiorello Laguardia,” Mamdani said.

To fund these initiatives, the Democratic socialist proposed raising taxes on the wealthiest residents and corporations. He suggested increasing the state’s corporate tax rate from 7.25 to 11.5 percent to match New Jersey’s, while also introducing higher income taxes for individuals earning over one million dollars annually. According to Mamdani, these measures could generate roughly nine billion dollars in additional revenue, enough to fund the city’s new programs and safeguard its finances against future federal cuts.

Mamdani emphasized that addressing affordability is not only a social issue but also an economic necessity. “The affordability crisis is affecting businesses’ ability to attract and retain talent,” he said. “When the city fails to provide childcare, companies are forced to step in with costly stipends.”

He noted that the average family in New York pays around $22,500 a year for childcare, often more than the cost of college tuition. “It is time for city government to step up to the responsibility it has,” Mamdani said, framing his agenda as a promise to make New York a fairer, more livable city for all.