New York Governor Kathy Hochul signaled caution on Saturday regarding Mayor-elect Zohran Mamdani’s ambitious plan to make New York City buses free, highlighting the financial challenges of diverting revenue from the city’s transit system.
Speaking at the Somos Conference in Puerto Rico, Hochul said, “We’re spending a lot of money, so I cannot set forth a plan right now that takes money out of a system that relies on the fares of the buses and the subways,” according to Fox News.
She noted that the state has already provided substantial funding to the Metropolitan Transportation Authority (MTA) for major projects.
“But can we find a path to make it more affordable for people who need help? Of course we can,” Hochul added, signaling openness to incremental solutions while stopping short of endorsing the full free-bus proposal.
The comments come roughly two months after Hochul endorsed Mamdani in the governor’s race. Mamdani, a Democratic socialist, has proposed funding free buses and universal childcare by raising taxes on the city’s wealthiest residents and corporations.
“I continue to be excited at the work of making the slowest buses in America fast and free,” Mamdani said during an unrelated press conference Monday. “And I appreciate the governor’s continued partnership in delivering on that agenda of affordability.”
Mamdani has outlined specific funding measures for the initiative, including a 2 percentage point increase in the personal income tax for the city’s wealthiest 1% and raising the corporate tax to match New Jersey’s 11.5% rate.
“I’ve said time and time again that I believe these are the most straightforward ways that we can actually fund universal childcare, making buses fast and free,” he said on Fox News’ The Story in October. “Now, if there are other ways to raise this money to fund this agenda, the most important thing is that we fund the agenda.”
Currently, bus fares in New York City are $2.90, while express buses cost $7 per ride. The MTA has struggled with fare evasion, reporting losses of approximately $315 million in 2022 alone. The financial strain underscores Hochul’s caution in fully embracing the free-bus plan.
