"For too many New Yorkers, dreams have been downsized," Stringer says in the address, an advanced copy of which was provided to The Politicker. "The conversation has changed from getting ahead—to just getting by.The middle class squeeze is becoming a chokehold. For me, that’s not just a problem.  It’s a crisis. Because when New York stops being a middle-class city, it stops being New York. And that’s the challenge I want to talk about tonight: Reclaiming the city for middle-class and working New Yorkers."

This morning, the Wall Street Journal reported that Mr. Stringer will call for a tax cut for most New Yorkers paid for by an increase on the wealthiest residents. The move follows a similar one done on the state level by Gov. Andrew Cuomo.

In his prepared remarks, BP Stringer notes that the tax cut comes as the price of Metrocards, heating oil and gasoline have all gone up.

"A city built on the middle class deserves a government that stands up for middle class New Yorkers," Mr. Stringer says.

In the address, Mr. Stringer will also call on the city to create a $250 million fund to rescue homes facing foreclosure . The money will be used to offer loans and grants to non-profit developers to renovate units in foreclosure who would then put the house on the market at a reduced rate.

"Home ownership has now become a distant dream for far too many New Yorkers. As I've said before, and I will say it again, the price of admission to our city cannot be a $1 million condo," Mr. Stringer says.

The address comes as 2013 mayoral race heats up. Mr. Stringer is widely considered to be positioning himself in a race that is already thought to include public advocate Bill de Blasio, Council Speaker Christine Quinn and former comptroller Bill Thompson.