Mamdani said he would add taxes on high earners in the city and increase the corporate tax rate.
Most big business executives, such as President Donald Trump donor Bill Ackman, had backed former Gov. Andrew Cuomo, who conceded to Mamdani on Tuesday. Mamdani’s win shocked many political observers across the spectrum.
Semafor reported that Cuomo’s biggest backers “hinted in fluid, panicked conversations” that they’d back Adams, who is running as an independent in November after dropping out of the Democratic primary in April.
Adams had rarely campaigned while he dealt with his corruption case, which was allegedly dropped in an alleged quid pro quo by the Trump administration that absolved Adams of the charges if he followed the administration’s immigration demands.
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