""Sadly, Mayor Mamdani is DESTROYING New York! It has no chance! The United States of America should not contribute to its failure," Trump wrote in a Truth Social post."
""The measure targets ultrawealthy out-of-city residents and global elites who use New York City real estate as a vehicle for wealth storage rather than as homes," a press release said."
"Mamdani acknowledged Trump's remarks about him and the tax during a press conference on Friday, saying he wasn't surprised. "It's not a surprise given the fact that the president and I have many deep policy differences, and I am not shy about airing them both publicly and privately," Mamdani said."
"Mamdani told reporters their differences in opinion "will continue." "The thing we have in common is that we're both New Yorkers," he said."
Mayor Zohran Mamdani's proposed pied-a-terre tax targets wealthy individuals owning secondary properties in New York City valued over $5 million. The tax aims to generate $500 million annually to help close the city's budget gap. Trump condemned the tax, stating it would lead to more people leaving the city and claiming it is detrimental to New York's future. Mamdani acknowledged Trump's criticism, emphasizing their policy differences while maintaining a focus on the city's needs.
Read at www.businessinsider.com
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