{"id":653816,"date":"2026-03-14T00:03:16","date_gmt":"2026-03-14T00:03:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/653816\/"},"modified":"2026-03-14T00:03:16","modified_gmt":"2026-03-14T00:03:16","slug":"extreme-mamdani-estate-tax-proposal-goes-right-after-new-yorks-middle-class-families","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/653816\/","title":{"rendered":"Extreme Mamdani estate tax proposal goes right after New York’s middle class families"},"content":{"rendered":"

Mayor Zohran Mamdani is floating an extreme new proposal<\/a> to change the state\u2019s estate tax \u2014 a move that would hurt middle-class New Yorkers and their loved ones.<\/p>\n

The socialist mayor wants to drastically slash the estate tax exemption threshold from the $7 million limit to just $750,000, a drop of more than 90%, according to a memo City Hall recently circulated to Albany lawmakers.<\/p>\n

The \u201cTax Revenue Raising Proposals\u201d document is a wish list containing dozens of different tax hikes that could be employed to bail the Big Apple out, according to Bloomberg<\/a>.<\/p>\n

New York City Mayor Zohran Mamdani speaks to city workers during a Ramadan iftar meal at the Museum of the City of New York on Thursday, March 12, 2026, in New York. AP<\/p>\n

In addition to dropping the estate tax exemption \u2014 to what would be the lowest in the US \u2014 Mamdani is also pitching increasing the top rate to a whopping 50%, from the current 16%, in what he said would raise $4 billion combined, the outlet reported.<\/p>\n

\u201cThis is a prime example of how the \u2018tax the rich\u2019 movement is actually all about taxing the middle class and those struggling to put food on their tables for their families,\u201d Assemblyman Michael Tannousis (R-Staten Island) told The Post of the proposal.<\/p>\n

\u201cWhat can you buy in New York City for $750,000? Not much at all.\u201d<\/p>\n

City Council Member Phil Wong (D-Queens) said lowering the exemption threshold would \u201chit a lot closer to home than people realize.\u201d<\/p>\n

\u201cWith property values where they are today, families could be forced to sell the very homes they hoped to pass on to their children,\u201d he said. \u201cGovernment cannot keep piling on taxes that punish middle-class homeowners.\u201d<\/p>\n

Mamdani has been putting pressure on Hochul and the state Legislature to help cover what it says is a $5.4 billion budget deficit for the fiscal year that begins July 1.<\/p>\n

Other \u201crevenue raiser proposals\u201d on the city\u2019s memo included:<\/p>\n