Zohran Mamdani, the Democratic Socialist candidate for mayor of New York City, faced tough questioning from business leaders regarding his tax plans and lack of managerial experience. The meeting, hosted by the Partnership for New York City, included high-profile executives unsettled by Mamdani's far-left policies. His tax proposals include a 2 percent millionaire tax and raising the corporate tax rate to fund new initiatives like a $1.1 billion public safety agency and various social programs. Business leaders have not managed to effectively counter Mamdani's progress despite their considerable influence.
Zohran Mamdani's proposal includes a new 2 percent millionaire tax for those making over $1 million a year, raising corporate tax to 11.5 percent to fund his initiatives.
Mamdani aims to establish a $1.1 billion public safety agency, introduce city-run groceries, eliminate bus fares, and freeze rents on rent-stabilized apartments.
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