New Yorkers rally behind Mamdani as Hochul shuts down more budget help

Amethyst Martinez, USA TODAY NETWORKThu, April 30, 2026 at 6:26 PM UTC

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New Yorkers are standing behind Zohran Mamdani's campaign promise of taxing the rich days after Gov. Kathy Hochul shut down the idea that the state could send more money for the city's immense budget gap.

Democratic Socialists of America are going right to the governor's doorstep — her Midtown office — to demand more taxes on higher-income New Yorkers.

The rally, which will have multiple NYC politicians in attendance, comes as the NYC budget deadline nears. In less than two weeks, an executive budget will have to be submitted as a gap of billions of dollars still exists.

Here's what to know.

DSA's Tax the Rich rally

Today, Thursday, April 30, protestors are planning to rally outside Hochul's office on Third Avenue in Manhattan with one demand: Tax the rich.

Assemblymember Diana Moreno, City Councilmembers Chi Ossé and Alexa Avilés, and NY State Senator Kristen Gonzalez will all be in attendance, according to organizers.

The event is planned for 5:30 p.m. and is also sponsored by Citizen Action of New York and Jews for Racial & Economic Justice.

"Hochul has shown over and over that she’s more vulnerable to our pressure than she’d like to admit. When we push, she moves," DSA wrote in a post.

"It’s the final stretch of the budget and now is the time to show her we’re not letting up. It’s now or never."

Just last week, DSA held another protest in front of her office.

Mamdani's budget crisis

One of Zohran Mamdani's biggest tests since becoming mayor — a massive funding gap in the city budget — is about to come to a head.

This week, he asked the state to help in what is believed a gap still totaling over $5 billion, according to reporting by ABC7.

The executive budget was supposed to be due Friday, May 1. Mamdani and Speaker Julie Menin have agreed to extend the deadline through May 12 for the 2027 fiscal year.

The finalized version is due June 30. Mamdani's administration argues the delay is necessary as it waits for the state budget and a response to a request for more money from Albany.

In asking the state for budget help, the Mamdani administration wants the NYC Passthrough Entity tax credit chopped from 100 percent to 75 percent, with the city keeping the other 25 percent.

That shift would put about $1 billion back into the city’s pocket, “while still allowing New York City residents to save on federal taxes,” the city said in a news release.

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In one of DSA's rallying points, it also pushed for the reduction of the PTET credit "to target the ultra-rich's hidden income."

But Hochul quickly shut down the idea when confronted on Mamdani's call.

"We're not changing PTET," she said at a news conference Tuesday. "It's not happening."

The governor's rebuke followed a partnership between her office and the Mamdani administration on another funding proposal.

Mamdani and Hochul recently revealed a pied-à-terre tax, which will add an annual charge on one to three family homes, condos and co-ops valued above $5 million if owners have another primary residence outside of the city.

"The measure targets ultrawealthy out-of-city residents and global elites who use New York City real estate as a vehicle for wealth storage rather than as homes," a release on the move said.

"It is projected to generate $500 million in annual revenue, including from some of the most expensive residences in the country."

But DSA argued it "isn't enough."

"The pied-a-terre tax is a good start, but New Yorkers need more," a post said.

"And we can win more, because at the end of the day, Hochul works for us."

The group is also calling for Hochul to "tax the richest corporations" and "raise taxes on millionaires." Hochul said that the city needs to change its spending.

"We've encouraged the speaker and the mayor to do what every other city has to do is look at your expenses."

Hochul's office did not immediately respond to a request from USA TODAY on if the two had planned to meet to discuss the budget after the publict spat. Officials also did not immediately respond for comment on the planned protest set for Thursday, April 30. Mamdani's office did not immediately answer when asked for a statement on Hochul's public disagreement with the mayor.

But on Wednesday, April 29, after officials met the King and Queen, the governor posted a selfie with both Mamdani and Menin, the caption reading: "Don’t believe everything you see online."

"We cannot close this deficit with savings alone. We need new revenue. And we need a structural reset in our relationship with the state," Mamdani said at a press conference earlier this week.

"That is the only way to meet our legal obligation to pass a balanced budget, and to do so without imposing a financial burden onto the backs of working people."

This article originally appeared on USA TODAY: New Yorkers to rally behind Mamdani's budget plan as deadline nears

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