New York City Mayor Zohran Mamdani has unveiled his preliminary financial plan on the heels of the announcement that the state will give the city $1.5 billion to help fix a massive budget shortfall. He outlined two paths to bridge a $5.4 billion gap. The first includes raising taxes on the richest New Yorkers and most profitable corporations. The second would raise property taxes and raid its reserves. "The options of the second path are the options of last resort," Mamdani said. Read more here