And politically, he is probably the most leftwing incumbent of the office since Fiorello La Guardia in the 1930s and 40s. Hardly surprising then, that Mr Mamdani’s extraordinary rise to prominence should be accompanied by high expectations and tense anticipation. In order to finance this programme, he has restated his intention to raise tax rates on the very wealthy, and on corporations. The political dynamics of New York, the home of Wall Street and a global centre for the arts, are not straightforwardly generalisable. But the affordability agenda that delivered Mr Mamdani’s flagship success has also fuelled a political revival for Democrats in states such as New Jersey and Virginia.

Source: The Guardian January 04, 2026 22:42 UTC