New York's Fiscal Challenges with Mamdani's Plans

Treasury Secretary Scott Bessent warned NYC against accepting financial aid if Zohran Mamdani becomes mayor.
Mamdani's policies include taxes on millionaires and corporations.
Citizens Budget Commission report shows NYC's millionaire population dropped from 12.7% to 8.7%.
New York lost $13B in tax revenue due to fewer millionaires.
City created only 1,000 jobs in 2025 vs. 66,000 in 2024.
Bessent cited 1975 'Drop dead' quote, implying federal disengagement.

Politics | Government | Economics

United States

Zohran Mamdani | Scott Bessent

1 month ago