Fox News
Mamdani ripped for claiming victory over capitalism after NYC's multi-billion dollar taxpayer funded bailout
Wednesday, July 1, 2026
Mayor Zohran Mamdani announced that New York City's budget was balanced through increased taxes on high earners. The state legislature approved a multi-billion dollar fiscal assistance package for the city. Albany's contribution addressed a projected budget shortfall that city officials had estimated at several billion dollars.
