Mayor Zohran Mamdani unveiled his first preliminary budget this week, creating some controversy as he revealed that it includes a proposal to raise property taxes on millions of city homeowners if Gov. Kathy Hochul doesn't agree to a tax hike on the rich. Was it simply a political bluff, or was the mayor serious? NY1 investigative reporter Courtney Gross and political reporters Ayana Harry and Dan Rivoli break down his plan.

Meanwhile, Mamdani took one step toward fulfilling his promise to freeze rents for stabilized tenants, while appearing to reverse course on a vow to end homeless encampment sweeps. On Wednesday, the mayor appointed six members to the nine-member Rent Guidelines Board, which is tasked with setting rents for the city's approximately 1 million stabilized units. He also said his administration would bring back encampment sweeps, under a modified policy overseen by the Department of Homeless Services rather than the NYPD. The "Off Topic" team weighs in on the mayor's latest moves.