New York Governor Kathy Hochul has labeled herself a “staunch capitalist” while affirming her intent to collaborate with Zohran Mamdani, the Democratic Socialist mayoral candidate who has rapidly become the frontrunner for New York City’s top job. The political spotlight on Mamdani intensified throughout the week as he met with Mike Bloomberg, a former three-term mayor and a billionaire with deep ties to the city’s business class and philanthropic community. And in a Thursday interview with The New York Times, Mamdani signaled that he will apologize for his previous criticisms of the New York Police Department. The trio of developments reveal a moment when New York’s powers that be seem to be making peace with an incoming heavyweight player, while they clarify just how socialist they’re willing to be in their policies. Translation: not very.
Hochul’s declaration was delivered during an interview with Bloomberg TV, in which she underscored her opposition to tax increases and reinforced her pro-business values. Hochul said businesses need to know that “the city of New York, as powerful and mighty as it is, is still a subdivision of the state, so any tax increase has to come across my desk first.” Mamdani campaigned on tax increases including a new tax on millionaires and an increase in the state’s corporate tax rate.
