AdvertisementBREAKING🚨: NYC Mayor Zohran Mamdani declares the city is facing a “fiscal crisis at the scale of the Great Recession” — a massive budget hole blamed on past mismanagement. During the campaign, Mamdani pledged to raise taxes on millionaires and corporations to help fund his ambitious affordability agenda. “New York City has not seen a gap of this scale since the Great Recession,” he said, referring to the 2008-09 financial crisis. Mamdani also wants Albany lawmakers to increase the amount of state funding the city receives. However, Mamdani said he didn’t want to rely solely on bonuses to cover the crisis.