Mamdani to call for tax hike, citing $12B budget deficit from Adams administrationNEW YORK (WABC) -- Mayor Zohran Mamdani will call for a tax hike on the richest residents in the five boroughs of New York City. Mamdani has said he wants households making more than $1 million to pay an additional 2% in taxes. He says it's one of the only ways to erase the $12 billion deficit he inherited from the Adams administration. Kathy Hochul said it is not a "news flash" that Mamdani wants to raise taxes, and raising income taxes on residents remains a non starter. "Despite these challenges, Mayor Adams led a real recovery through steady leadership and tough decisions," the spokesperson said.