Mamdani rolls out new ‘savings calculator’ that rivals blast over ‘fantasy’ math

Mayoral front-runner Zohran Mamdani’s campaign rolled out a “savings calculator” that estimates how much money New Yorkers would be spared under his watch – but rivals claim it’s using “fantasy” math.

The proud socialist’s gizmo focuses on three planks of his so-called affordability agenda — a rent freeze for rent-stabilized units, free bus fare and universal child care — that would need buy-in from other officials across the state to achieve.

“The Wizard of Zohran waves a wand and spits out fantasy savings that don’t exist, and New Yorkers are too smart for parlor tricks and want real plans, not gimmicks,” said GOP candidate Curtis Sliwa in a statement.

The questionable calculator asks users living in rent-stabilized units to punch in their rent – and it multiplies the figure by roughly 3.24%, which is the average increase Mamdani’s camp said the Rent Guidelines Board has voted for dating back to 2000. 

But the rent average oddly didn’t include former Mayor Bill de Blasio’s tenure when there were only slight rent hikes.

Those estimated rent savings are then broken down over the next four years — the new mayor’s first term.

The bus fare was tabulated using the expected $3 charge next year with the number of trips a commuter is expected to take. Meanwhile, the child care “savings” stemmed from how many children a city resident has under 5-years old multiplied by $22,000 – which the campaign determined is the average cost of child care sorted out by several metrics.

The calculator then adds up the supposed cost savings from each plank. 

Former Gov. Andrew Cuomo also panned the calculations, and said many New Yorkers including renters would not see the supposed savings Mamdani is offering. 

“If you take the subway instead of the bus, you save zero, zilch, Nada and if you have any kids over five you got you got nothing so that’s our point it’s you know he’s running on bumper sticker slogans, but they don’t have real solutions for New Yorkers,” a Cuomo campaign spokesperson said.

Mamdani has faced relentless questions over how he plans to pay for all his proposed freebies, as many of his initiatives will ultimately be beyond the mayor’s authority.

“In a perfect world all of Mamdani’s policy proposals could come true with the stroke of a mayoral pen, but the reality is nearly all of what he wants to accomplish requires approval from other levels of government,” said Democratic consultant Jake Dilemani.

Bus fares are set by state-run Metropolitan Transportation Authority, though the mayor does select some members of that panel.

To greatly expand universal childcare, he’d likely need to see the wealthiest residents and corporations stuck with a higher tax bill – which state lawmakers and Gov. Kathy Hochul would need to approve.

The Rent Guidelines Board determines rent adjustment for about 1 million units, but Mamdani gets to appoint each member.