New York Gov. Kathy Hochul is urging wealthy New Yorkers who fled the city to return to the state, arguing that their tax base has been eroded and that they are competing with other states with less tax burdens. This comes as Mayor Zohran Mamdani and his "tax the rich" group of left-wing lawmakers demand further increases in income taxes to help cover a $5.4 billion budget gap he claims the city faces. However, Hochil, who is also negotiating her own $263 billion budget proposal, has admitted to profiting from New Yorkers' income taxes for years.