Democratic nominee Zohran Mamdani’s mayoral campaign late Tuesday described the democratic socialist candidate’s first of two major confabs with New York City’s business executives this week as a “constructive, honest discussion.”
“We look forward to the opportunity to build on this conversation, even in navigating disagreement on fiscal policy,” Jeffrey Lerner, Mamdani’s spokesperson, said in a statement. “Zohran continues to believe that working in partnership is the best way to deliver an affordable city for all New Yorkers.”
Mamdani, a Queens state lawmaker who handily won the Democratic primary last month, met with roughly 100 CEOs on Tuesday afternoon in a gathering organized by the Partnership for New York City business group.
The meeting was the first of two this week, the second planned for Wednesday afternoon with the city’s tech leaders. It was aimed at assuaging the business community’s trepidations over Mamdani’s candidacy as he vies in the November general election against incumbent Mayor Eric Adams and former Gov. Andrew Cuomo, both of whom are running as independents.
Mamdani’s proposals to raise the state’s corporate tax rate to 11.5% and place an additional 2% tax on individuals earning over $1 million a year have caused the most concern among business leaders who believe those changes would drive an exodus of wealthy individuals from the city. The proposals would need approval from the state legislature and the governor.
Business reaction
Following the meeting, the Partnership released a statement vaguely outlining some of the topics that Mamdani and the corporate leaders discussed, including “his policies and plans to address housing, public safety, corporate and individual taxes, and child care for New Yorkers, as well as the ongoing conflict in Israel and Palestine.”
“Audience members specifically inquired about retail theft, support for CUNY and the bright young New Yorkers it supports, and partnership with the private sector across multiple areas relating to quality of life,” the group said. “A question was also asked about the quality of public schools, and Mr. Mamdani’s plans to improve them so that New Yorkers do not feel they must move away to secure a high-quality public education for their children.”
According to published reports, the meeting also included some other notable tidbits.
Mamdani said he would “discourage” using the rallying cry “globalize the intifada,” a phrase many Jewish New Yorkers view as inciting violence against them, the New York Times reported. Previously, Mamdani has stopped short of condemning the phrase, saying while he does not personally use it, it is viewed as an Arabic call for liberation.
Additionally, JP Morgan Chase CEO Jamie Dimon skipped the gathering, according to a report by the New York Post. The outlet reported that Dimon had an unspecified scheduling conflict.
Mamdani also stuck to his guns on raising taxes on the wealthy, the Post reported. Prior to the confab, the Assembly member said he would “say the same things” in the meetings that “I’ve said outside about my fiscal policies, about my commitments.”
Mamdani’s campaign did not immediately confirm the Times’ and Post’s reported details from the meeting.
Mamdani is also set to meet with House Minority Leader Hakeem Jeffries, who has yet to endorse his campaign, in the Congress member’s Brooklyn district later this week. Jeffries, U.S. Senate Minority Leader Chuck Schumer, and Gov. Kathy Hochul have all held off on supporting Mamdani since the primary, while coming to his defense against attacks by Republican President Donald Trump.
While those establishment Democrats are still holding out on backing Mamdani, others have been jumping on board. In the past few weeks, the state lawmaker has been endorsed by U.S. Rep. Adriano Espaillat (D-Manhattan/Bronx), the Manhattan Democratic Party, and most of the city’s powerful unions.
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