03/23/2026
BIG APPLE BITE: NYC Mayor Zohran Mamdani is under fire for backing a plan to slash New York’s estate tax exemption by nearly 90%, a move critics say could drag middle-class families into a tax burden long aimed at the rich.
The plan would sharply reduce how much of an estate can be passed on tax-free, cutting the threshold from $7.35 million to just $750,000 — among the lowest in the country.
