Democratic socialist Zohran Mamdani, the Democratic Party's mayoral nominee in New York City, speaks to reporters on Aug. 7, 2025. (AP Photo/Yuki Iwamura)
Incumbent Mayor Eric Adams, who dropped out of the 2025 race for New York City's Democratic Party mayor nomination and who is running for re-election as an independent, struck a deal with the city council on a roughly $116 billion budget for fiscal year 2026.
"There are no perfect budgets. But we have come a long way, and this one gets pretty close," City Council Speaker Adrienne Adams said at a press conference announcing the deal in late June.
CUOMO FLIPS SCIPT ON MAMDANI IN NEW YORK CITY MAYORAL RACE
But the 33-year-old Mamdani, who is the polling frontrunner over Adams, former New York State Gov. Andrew Cuomo, and two other contenders in November's general election, is running on an expensive platform to tackle affordability and inequality in one of the nation's most expensive cities.
Mamdani grabbed national attention in late June after topping Cuomo and nine other candidates in the Democratic Party primary, as he took a big step towards becoming the first Muslim and first millennial mayor.
New York City Mayor Eric Adams officially launches his independent re-election bid on June 26, 2025, in New York City. (AP)
Cuomo, as he proposed his own plan to address affordability in New York City, said on Thursday that Mandani is "proposing a theory of socialism that has never worked anywhere."
"What is the best answer to affordability? It is business development. It is opportunity. It is jobs. It is economic growth. It is not anti-business socialism," Cuomo said as he asked and answered his own question.
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Firing back, Mamdani campaign spokesperson Dora Pekec claimed that "trusting Andrew Cuomo to address New York’s affordability crisis is the equivalent of tasking an arsonist with putting out a fire — he created this crisis."
"Trusting Andrew Cuomo to address New York’s affordability crisis is the equivalent of tasking an arsonist with putting out a fire — he created this crisis," Mamdani spokesperson Dora Pekec said in a statement.
Paul Steinhauser is a politics reporter based in the swing state of New Hampshire. He covers the campaign trail from coast to coast."
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https://www.foxnews.com/politics/chicagos-budget-shortfall-puts-spotlight-mamdanis-socialism-agenda-new-york-city