N.Y. Today: Can a Second Home Tax Work in New York? The Numbers Don’t Add Up Yet.

May 3, 2026

An aerial view of skyscrapers in Manhattan, with gardens and water tanks visible from their roofs.

Karsten Moran for The New York Times

Can a Second Home Tax Work in New York? The Numbers Don’t Add Up Yet.

The tax proposal is being held up as a generational attempt to make the ultrawealthy pay more to society and potentially raise $500 million a year for New York City.

By Mihir Zaveri and Benjamin Oreskes

Do Higher Taxes Drive the Rich Away? Mamdani’s Plan Revives the Question.

Mayor Zohran Mamdani wants to raise income taxes on New York City’s millionaires. Tax increases elsewhere have not led to an exodus, but some worry the city is reaching a tipping point.

By Emma G. Fitzsimmons and Asmaa Elkeurti

Diners in New Jersey Are Struggling to Survive

New Jersey bills itself as the “diner capital of the world.” Lawmakers are trying to help it stay that way, despite economic turmoil causing food prices to skyrocket.

By Claire Fahy and Emma Rose Milligan

A woman speaks in front of a wood lectern, as a man stands behind her, smiling.

What We Know About New York’s Proposed Tax Increases

City leaders and state lawmakers are pushing Gov. Kathy Hochul to raise taxes on the wealthy, and they have floated several options.

By Grace Ashford

In a TV scene, two doctors look at each other in an emergency room. The one on the right has her arms crossed angrily.

Trading the E.R. or the Kitchen for a Broadway Stage

Audiences are flocking to shows starring Patrick Ball of “The Pitt,” Jon Bernthal and Ayo Edebiri of “The Bear,” Ben Ahlers of “The Gilded Age” and more.

By Alexis Soloski

Want more news? Check out our full coverage.

The Mini Crossword: Here is today’s puzzle.

New York Today is published weekdays around 6 a.m. You can also find it at nytoday.com.

If you received this newsletter from someone else, subscribe here.

Need help? Review our newsletter help page or contact us for assistance.

You received this email because you signed up for New York Today from The New York Times.

To stop receiving New York Today, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings.

Subscribe to The Times Get The New York Times app

Connect with us on:

Change Your Email Privacy Policy Contact Us California Notices

The New York Times Company. 620 Eighth Avenue New York, NY 10018