Exodus from NYC spells trouble for Mamdani’s spending-hike agenda
A new report highlights that New York City's population loss, particularly among higher earners, threatens Mayor Zohran Mamdani's plans for increased spending. The Citizens Budget Committee urges the mayor to make the city more attractive to businesses and residents rather than relying on tax hikes. Declining public school enrollment and rising costs without improved outcomes further complicate the city's fiscal challenges.
- ▪From 2019 to 2023, people who left New York City earned $68 billion more than those who moved in.
- ▪Public school enrollment dropped by 88,300 between 2014-15 and 2020-21, and fell another 69,600 by 2024-25.
- ▪249 public schools operate at less than 50% capacity, and 596 others operate between 50% and 80% capacity.
- ▪If New York state’s share of U.S. millionaires had stayed at 2010 levels, the city would have collected $2 billion more in income taxes this year.
- ▪The Department of Education continues to spend more without delivering better educational results.
Opening excerpt (first ~120 words) tap to expand
Opinion editorial Exodus from NYC spells trouble for Mamdani’s spending-hike agenda By Post Editorial Board Published May 1, 2026, 9:54 p.m. ET Mayor Zohran Mamdani addresses thousands of union members gathered in Washington Square Park in Manhattan on Friday, May 1, 2026. Luiz C. Ribeiro for NY Post A new watchdog report points to a peril Mayor Zohran Mamdani refuses to see: New York City can’t actually afford to bleed its golden geese even more just to fund his spending dreams. Competitive NYC from the Citizens Budget Committee points out that people who moved out of the city from 2019 to 2023 earned $68 billion more than those who moved in — and the exodus is growing: Last year, it spread across all income levels.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Opinion – Latest Op-Eds & News Commentary | New York Post.
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