Key facts
- Menin will support a tax hike for universal child care during next year's state budget process.
- Menin called for progressive taxation at POLITICO’s New York Outlook event.
- The city faces a projected budget gap of over $6 billion next fiscal year.
New York City Council Speaker Julie Menin announced Wednesday her support for a tax increase to fund universal child care, aligning with Mayor Zohran Mamdani's expected proposal. Menin stated that such a tax hike would benefit the city by attracting more workers and enhancing corporate competitiveness. Her endorsement intensifies pressure on Governor Kathy Hochul ahead of the legislative session. Hochul has previously resisted calls for tax increases on the wealthy and corporations but did support a pied-à-terre tax earlier this year. Menin did not specify the tax hike details, deferring to discussions between Mamdani and Hochul. New York City is anticipating a budget deficit exceeding $6 billion in the upcoming fiscal year.