Will higher taxes save NYC — or hurt it?

New York City is already one of the most expensive places in the country to live — and to do business.It has some of the highest taxes in the nation and one of the highest levels of government spending. Now, just weeks into his term, Mayor Mamdani has announced a $12 billion budget gap and renewed calls to raise taxes on wealthy individuals and corporations.Supporters say higher taxes are needed to protect essential services. Critics warn they could drive away jobs and investment. So what do the numbers actually show?In this episode, we’re joined by Andrew Rein, President of the Citizens Budget Commission, to break down where the City’s finances stand and what raising taxes could mean for New York’s future.To learn more about the Citizens Budget Commission and read their reports, visit cbcny.orgWant to learn more about REBNY? Visit rebny.com