NEW YORK, NY — As New York City voters decide whether to elect democratic socialist Zohran Mamdani as mayor, President Donald Trump and Texas Gov. Greg Abbott have sharply criticized the city’s tax-heavy economic vision. Mamdani’s platform includes universal childcare, rent freezes, and tax hikes on top earners and corporations — proposals opponents say could drive out businesses and spark another fiscal crisis.
Trump told 60 Minutes on Sunday that he might cut federal funding to New York if Mamdani wins, calling him a “communist.” Abbott joked on X that he would impose a “100% tariff” on New Yorkers moving to Texas, where voters this week are considering 10 constitutional amendments to restrict taxation.
Texas measures include permanent homestead exemptions, bans on capital gains and inheritance taxes, and new property tax relief for homeowners, veterans, and small businesses. The state, which already prohibits income and corporate taxes, continues to lead the nation in job creation.
The Citizens Budget Committee warned that New York’s fiscal expansion echoes the city’s 1975 crisis, when excessive spending led to layoffs and outmigration.
Sources:
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
