The Fox News Rundown Evening Edition: NYC Mayor Mamdani Says Tax The Rich Or Else
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Feb 18, 2026 Pierre Debbas, Manhattan real estate attorney and founding partner of Romer Debbas, discusses NYC property values, taxation and legal implications. He critiques proposed tax hikes and warns who really pays. He debates fiscal tradeoffs, potential exodus of residents and businesses, and whether spending cuts should come before revenue increases.
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Mayor's Promise Hinges On State Power
- Zohran Mamdani campaigned on taxing the ultra-rich to close New York City's budget gap.
- His plan hinges on state action because the city cannot directly raise the targeted income tax itself.
Conversation With A Million-Dollar Earner
- Eben Brown recounts speaking with a New Yorker who earns over $1 million and was bluntly told their taxes would increase.
- That exchange illustrates Mamdani's direct campaign message to high earners about higher taxes.
Property Tax Threat Reaches Middle Class
- If the state won't raise income taxes, Mamdani threatens a citywide property tax increase instead.
- That would affect middle-income homeowners across all five boroughs, not just the ultra-wealthy.