During his inaugural speech on Thursday, Mamdani passionately reaffirmed his commitment to the key promises of his campaign: universal childcare, affordable housing, and complimentary bus services. These initiatives are aimed at easing the financial burdens on New Yorkers.

“We will do something that New Yorkers do better than anyone else: we will set an example for the world,” Mamdani declared, emphasizing New York’s leadership and innovation.

As several thousand supporters gathered, they erupted into cheers when Senator Bernie Sanders took the stage. Sanders advocated for increased tax contributions from America’s wealthiest, igniting the crowd into a spirited chorus of “tax the rich.”

Mamdani made history as the first New York City mayor to use the Quran for his swearing-in, reflecting his Muslim faith and marking a significant cultural moment for the city.

The former state politician’s platform, focusing on rent freezes, free bus services, and childcare, has resonated as a potential blueprint for the Democratic Party nationwide, especially with the upcoming midterm elections in November.

Meanwhile, New York Governor Kathy Hochul has expressed her opposition to raising personal income taxes. However, she is contemplating an increase in corporate taxes to address potential budget deficits in light of federal budget cuts.

Mamdani, a former state politician, promised a freeze on rents and free buses and childcare, building a campaign around affordability issues that some have seen as a path forward for the Democratic Party around the country ahead of November midterm elections.

New York governor Kathy Hochul has said she opposes raising personal income taxes but is considering raising corporate taxes to pay for a potential budget shortfall amid federal cuts.

Inauguration of a new era

Mamdani raised US$2.6 million ($3.9 million) for the transition and celebrations from nearly 30,000 contributors, more than other mayors on record this century, both in total and in single donations, according to official campaign data that discloses inaugural expenses starting with Michael Bloomberg’s first term in 2001.