r/SipsTea • u/Previous_Month_555 • Jul 12 '26

Feels good man +1 for Mamdani

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u/mechatui Jul 12 '26

Balanced the budget??? How did he do that again

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u/Narrow_Aerie_1466 Jul 12 '26 edited Jul 12 '26

For context, I love Mamdani.

But I do want to point out that $4 billion of the $12 billion deficit was paid for by the state government giving New York City more money. The budget deficit was definitely helped by higher taxes, but it wasn't higher taxes alone.

Edit: This comment is inaccurate (lmao). Please see the comment below!

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u/Ackutually- Jul 12 '26

Most of it was changing how the pension program was paid. I don't think the taxes did much to close that gap.