Mamdani asks supporters for $4M as socialist agenda begins to crack

Figures displayed in the video showed just over $1 million raised, with an average donation of $77.65 across more than 12,700 individual contributors.

By Jewish Breaking News

New York City’s incoming mayor has launched a new fundraising push, urging backers to cover the steep costs of his transition and vowing to reject the wealthy donors who typically dominate the process.

In a video posted Tuesday, Mamdani told supporters that transition operations are not eligible for the city’s eight-to-one public matching funds, meaning his team must raise the full amount on its own.

“I hope very soon not to have to ask you for money,” he said. “But until then, I’m askin’ for you to go to transition2025.com, give whatever you can.”

The self-described democratic socialist said his goal is to raise $4 million before he takes office on January 1, promising that “the day we start is the day we deliver — not the day we begin preparing.”

Mamdani defended the scale of the fundraising drive by citing the sheer volume of work ahead.

“We have to vet the 50,000 résumés we’ve received,” he said. “We have to keep paying our incredible team. And we have to plan not just our inauguration, but our policy implementation.”

Figures displayed in the video showed just over $1 million raised, with an average donation of $77.65 across more than 12,700 individual contributors.

During the campaign, Mamdani laid out a sweeping affordability program anchored by universal childcare, fare-free buses, massive public housing construction, and city-run grocery stores.

To pay for it all, he has proposed raising the corporate tax rate from 7.25% to 11.5% and adding a 2% surcharge on millionaires.

But even sympathetic analysts note the math doesn’t come close.

His childcare expansion alone carries a $6 billion annual price tag, free buses cost another $800 million, and his housing plan — 200,000 new rent-stabilized units — is projected at $100 billion over a decade.

Furthermore, New York already has the nation’s highest top income tax rate, and any increase would require approval from Albany.

While Gov. Hochul has ruled out supporting new taxes, Mamdani appears to have allies in the state legislature: Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins both endorsed his campaign and have declined to rule out taxing the wealthy next year.