Albany, N.Y., February 11—State Senator Tom O'Mara (R,C-Big Flats), Ranking Member on the Senate Finance Committee, is again joining legislative colleagues in Albany this week to continue a monthlong series of joint Senate-Assembly hearings on Governor Kathy Hochul’s proposed 2026-2027 New York State budget. 

On Wednesday, the hearing is examining the governor’s specific proposals for Local Government.

The hearing’s first panel consisted of the new leadership of New York City including Mayor Zohran Mamdani and First Deputy Mayor Dean Fuleihan, who testified before the panel throughout the morning and into the early afternoon, facing questioning from legislators, including O’Mara, on a range of concerns and issues.

O’Mara focused his questioning on Mayor Mamdani’s adherence to a Democratic Socialist agenda to increase personal income taxes on the city’s high-income earners and to increase state corporate taxes on businesses and industries in order to afford myriad plans to increase government spending.

O’Mara expressed widespread concerns that the state and city’s already heavy tax burden will exacerbate the outmigration of people and jobs, particularly within the financial industry sector that both the city and state governments depend on for a significant portion of their revenues.

“How are you not concerned that (raising taxes) is going to have an impact on both the state and the city’s finances?” O’Mara asked.

[Watch O'Mara's exchange with the New York City panel HERE]

Senator O'Mara has served as the Ranking Member on the Senate Finance Committee since 2021. 

"We welcome this year’s budget hearings, at this critical time, for direct input and critique on a range of policy areas that will decide the short- and long-term future and strength of our local communities and economies.” said Senator O’Mara, who represents the 58th Senate District comprised of Chemung, Schuyler, Seneca, Steuben, Tioga, and Yates counties, and a part of Allegany County. 

Read more and find the full hearings schedule HERE.