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new for sale and rental listings July 24 through June 2025, number one trusted based on

August 2025 proprietary survey among real estate professionals. From the opinion pages of the

Wall Street Journal, this is Potomac Watch. New York Mayor Zoran

Mamdani gives a tax ultimatum to Governor Kathy Hokel, demanding that she help him increase income

and business taxes or else he'll jack up property taxes on the middle class by nearly 10%. Meantime,

the Congressional Budget Office forecasts over the next decade deficits of a combined

$24 trillion.

Welcome, I'm Kyle Peterson with the Wall Street Journal.

We're joined today by my colleagues on the journal's opinion pages, columnists Alicia Finley,

and Kim Strassel. New York City already has the nation's

highest top income tax rate, about 14.8% when you combine the state rate on top of the city

local levy. By the way, that's also on top of the top 37% rate taken by the federal government. But New York's

new socialist mayor says he needs just a little bit more to close what he is calling a $5 billion budget

gap. Mamdani on Tuesday unveiled a $127 billion budget for the city. He repeated his calls to add two percentage points to the income tax rate

on the top of the wealthiest New Yorkers while also calling to raise the corporate tax from

11.5% to 7.25%. But to do that, he needs help from Albany, and if he doesn't get it, he is saying he will take a local

...