Only NYC Mayoral Candidate to Commit to No New Taxes; Plan Would Return $4,000+ Per Taxpayer by Cutting Waste, Not Services

NEW YORK and WASHINGTON, Aug. 7, 2025 /PRNewswire/ -- Independent mayoral candidate Joseph Hernandez announced today that he has signed the Taxpayer Protection Pledge at the headquarters of Americans for Tax Reform in Washington, D.C., making him the only candidate in the 2025 race to formally commit to not raise taxes on New Yorkers.

Alongside the pledge, Hernandez released a bold budget reform plan identifying $15.2 billion in annual savings through targeted cuts and structural changes from the current $120 billion budget, without reducing core services. He pledged to reinvest those savings into improving public safety, clean streets, housing, education, and transit, while also delivering over $4,000 in value per taxpayer.

"New Yorkers are the most overtaxed Americans—and for what?" Hernandez said. "We pay more than any other city and get less in return. My plan restores discipline and delivers better services without asking working families to pay more."

Savings would come from six key areas: reducing administrative bloat in the Department of Education, consolidating overlapping homeless and mental health programs, eliminating politically connected consultants, modernizing procurement, cutting legal retainers, and streamlining staffing.

Hernandez pointed to the Department of Education as a top target for reform, where the city spends over $38 billion annually. His plan would eliminate redundant central office roles, cancel inflated vendor contracts, and redirect resources to classrooms—yielding over $5 billion in savings.

If elected, Hernandez will issue a fiscal emergency order on day one, freeze non-essential hiring, and establish an Independent Budget Reform Commission. He expects to capture $7–8 billion in verified recurring savings in his first year, with full implementation by year two. The plan also includes a new Rainy Day Reserve Fund to stabilize long-term finances.

A Cuban-American entrepreneur, Hernandez has built and led multiple public companies and holds degrees in neuroscience, molecular genetics, epidemiology, and finance from the University of Florida, Yale, and Oxford (in progress).

"This city doesn't need higher taxes," Hernandez said. "It needs smarter leadership and the courage to finally clean up the budget."

About Joseph Hernandez:
Joseph Hernandez is a Cuban-American biotech entrepreneur and independent candidate for Mayor of New York City. A refugee and the son of a political prisoner, he immigrated to the U.S. at age seven and built a nationally recognized career founding healthcare companies and advancing public health innovation. He is running to restore safety, affordability, and accountability to New York City leadership.

For more information, visit hernandezfornyc.com.

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SOURCE Hernandez For NYC