Kathy Hochul Shoots Down Zohran Mamdani’s “Tax the Rich” Plan: “I Cannot Do That to the Middle Class”

Governor Kathy Hochul is drawing a sharp line between herself and socialist NYC mayoral frontrunner Zohran Mamdani, publicly rejecting his “tax the rich” plan as a direct threat to New York’s already struggling middle class.

In an appearance on the Raging Moderates podcast this week, Hochul pushed back hard against Mamdani’s proposal, which targets the top 1.5% of earners in the state. She made clear that those earners are responsible for an outsized portion of New York’s tax base — and that driving them away would hurt everyone else.

“1.5% of New Yorkers cover about a third of our budget — that’s enormous,” Hochul said. “I’m concerned about out-migration of people of the ones who are supporting our budget. I cannot make up for that with middle-class tax increases. I cannot do that to the middle class and the struggling New Yorkers.”

The comments came just days after Hochul was heckled by Mamdani supporters chanting “Tax the rich!” during a campaign rally where she appeared alongside the socialist candidate. Despite her presence at the event — and her eventual endorsement of Mamdani’s mayoral run — Hochul made it clear she won’t be backing his far-left economic agenda.

“I will say one energetic rally does not get me to change my positions. I assure you,” she said. “I do hear people’s voices, I process what everybody says, but I also have to balance governing this state.”

She continued: “Those people who are actually the reason we have a generous supportive budget that helps lift people up — it’s their revenues that we tax.”

Hochul had long delayed endorsing Mamdani’s campaign, reportedly over concerns about his aggressive wealth redistribution policies. And while she ultimately backed him for mayor, she’s now making it known that his tax proposals won’t get past her in Albany.

That’s a critical point, given Mamdani’s signature promise to raise taxes on corporations and high-income earners would require approval from the state legislature. Hochul has already signaled she would block such a move, effectively neutralizing a cornerstone of Mamdani’s platform.

As Mamdani continues to build momentum with his far-left base, Hochul’s comments underscore a growing rift between the Democratic Party’s establishment and its rising socialist wing. And despite her endorsement, the governor appears unwilling to let ideology jeopardize New York’s already fragile economy.