Gov. Hochul is reportedly open to raising taxes on corporations in the Empire State to help fund socialist Mayor-elect Zohran Mamdani’s freebie-filled agenda for New York City.

Hochul, who is up for re-election in 2026, is sticking to her vow to not hit high-earners with higher taxes — but has had preliminary conversations about raising revenue by upping the corporate tax rate, according to Politico, which first reported the story.

The hike would help fill the more than $4 billion budget gap facing the state next year and cover some of the costs associated with Mamdani’s socialist dream in the Big Apple once he becomes mayor, Bloomberg reported.

The revelation comes after a Thursday meeting between Mamdani and Hochul in which the pair discussed their shared goal of delivering universal childcare.

Raising the corporate tax would mark a notable shift for Hochul, who has repeatedly said that she would not raise taxes when pressed by the far-left faction of the party that helped propel Mamdani into office.

While Hochul hasn’t been explicit about whether she was referring to taxes on wealthy individuals or businesses, but her budget director, Blake Washington, insisted earlier this week that higher taxes were “the last thing on my mind” and stressed that New York was in a “good spot financially.”

Aside from the budget gap in 2027, New York State also faces numerous cuts in funding from the federal government, which could cost the state billions.

Calls to the governor’s office were not immediately returned.

One of the potential Republican opponents in the gubernatorial race next year, Bruce Blakeman, was quick to jump on the comment.

“Kathy Hochul’s failed policies have already pushed businesses and residents out of New York for years,’ fumed Blakeman, adding, “With Zohran Mamdani now steering the direction of this one-party controlled state, it’s clear the Governor is prepared to raise taxes even higher — forcing New York businesses to pay far more than competitors in states like Florida, New Jersey, and Texas.”

GOP governor hopeful Elise Stefanik piled on, saying on social media that Hochul is “weak, inept, and destroying New York’s economy.”

“[Hochul] will bend the knee to the Socialists who will extract another tax hike out of her.”

The attack is expected to be a common refrain from the right as she heads into what could be a bruising general election in 2026 after endorsing proudly socialist Mamdani in the mayoral race.

Mamdani has called for jacking up the corporate tax from 7.5% to 11.5% to match the rate in New Jersey.

The Garden State’s corporate income tax is the highest in the nation, according to the Tax Foundation – and critics note that Mamdani’s plan would effectively raise the rate in New York City even higher, as the city has other taxes on businesses.

The mayor-elect wants to use the corporate increase to help fund the massive $10 billion slate of campaign promises, such as free buses, universal childcare and a new Department of Community Safety.

Opponents have argued the increase would push businesses out of New York City.

The city also faces its own financial shortfalls that the incoming mayor needs to tackle before rolling out his grab bag of freebies.

The Big Apple faces a more $5 billion budget gap heading into the next fiscal year, with more cuts from the Trump administration also coming.