Mamdani, the new mayor of New York, promised to raise the city's personal income tax rate by 2 percentage points for the portion of annual revenue exceeding 1 million US dollars to about 5.9%, and raise the maximum corporate tax from 7.25% to 11.5%.

Mamdani, the new mayor of New York, promised to raise the city's personal income tax rate by 2 percentage points for the portion of annual revenue exceeding 1 million US dollars to about 5.9%, and raise the maximum corporate tax from 7.25% to 11.5%.