Zohran Mamdani campaigned to become the mayor of New York City by promising a series of expensive plans including free child care, rent freezes and free buses. As I pointed out here, the cost of these proposals is unknown but is expected to be wildly expensive.
The free child care element could cost the city around $6 billion per year, equal to the entire NYPD budget. His plan for free buses is expected to cost another $800 million, but again it could be more.
So where is he going to get the money to pay for all of this? Well, most of the money would come from two proposals. The first is an increase in the state corporate tax rate which could bring in an extra $5 billion per year. The second is a millionaire’s tax which could bring in $4 billion per year.
But there’s a catch. Both of those plans are state taxes which would have to be passed by the legislature and signed by the governor in order to happen. Mamdani himself actually has no role in passing these taxes other than using his position as mayor to advocate for them. But on his own he can’t do anything. He’s completely dependent on the governor if he wants these to pass.
All that to say, it matters what Gov. Kathy Hochul thinks about his plans. And so far her answer to them has been a solid no. For instance, she was asked recently on CNN if she would consider raising income taxes. Her answer was a flat no.
Another near-lethal blow to Mamdani’s free-for-all promises just happened.
His promises to Trump proof NYC requires a huge amount of money, and his primary means to achieve it was said to be raising taxes.
Kathy Hochul just confirmed there’s no chance she will raise taxes. https://t.co/7qWBwYTL0T pic.twitter.com/jb7DXBMQZO
— Media Lies (@MediasLies) November 8, 2025
More recently, she directly shot a hole in Mamdani’s plans for free buses. Gov. Hochul was at a conference taking place in San Juan, Puerto Rico when she was asked about Mamdani’s plan for free buses.
“I cannot set forth a plan right now that takes money out of a system that relies on the fares of the buses and the subways. But can we find a path to make it more affordable for people who need help? Of course, we can,” Hochul said during a press conference with reporters, referencing her prior deals with the MTA to provide billions for the authority’s next capital plan, as well as other investments like cameras on subway cars.
Here’s video of her answer:
Yet another major blow to Mamdani’s free-for-all pipe dream. His dream of giving free busing and subways is all but destroyed.
Gov. Hochul just confirmed: “I cannot set forth a plan right now that takes money out of a system that relies on the fares of the buses and the… https://t.co/NN5mO6VqRU pic.twitter.com/DK9rDVCjX3
— Media Lies (@MediasLies) November 10, 2025
The New York transit system is already in a deep fiscal hole and is facing a budget gap of more than $400 million.
New York City’s transit system faces a potential $432 million budget shortfall this year because the subway, bus and commuter rail operator may need to wait until 2026 to get reimbursed from federal money owed for cleaning costs during the Covid pandemic, according to a report from Thomas DiNapoli, the state’s comptroller.
The Metropolitan Transportation Authority, the largest transit provider in the US, has yet to receive $600 million in Federal Emergency Management Agency funds to cover additional cleaning expenses the MTA paid for during the pandemic.
Now is not the moment to spend another $800 million. If anything, the system needs to be come more self-sufficient, not less. So the chances of Mamdani getting his way on this are slim.
As for his free child care proposal, Hochul says she’s on board with that statewide, but notes the state doesn’t have the money.
Hochul said she’s also looking at expanding a universal child care program statewide — but the total price tag is $15 billion.
“Child care I already committed to,” she said. “I’m committed to this as mom governor, I get it, but also to do it statewide right now, it’s about $15 billion — the entire amount of my reserves.”
Where could they come up with that money? The governor could agree to raises taxes, but as you’ve already seen, she’s a firm no on that plan.
So what this amounts to is an incoming mayor who won the election by promising people things he can’t deliver with money the state doesn’t have. Maybe something will change but in the near term it looks like Mamdani’s socialism has no path to getting its hands on more of other people’s money.
Here’s a local news story about Mamdani’s bus promises.
Editor’s Note: After more than 40 days of screwing Americans, a few Dems have finally caved. The Schumer Shutdown was never about principle—just inflicting pain for political points.
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