"I asked him and some of his advisers if there were cities that had pulled this off that New York could emulate, places that had managed to meaningfully lower the cost of living. None sprang to mind," the article stated."
"Talk to policy experts, and they find the prospect laughable; the only cities where this has happened are ones where the quality of life dropped so dramatically that no one wanted to live there anymore."
""This proposal is absolute suicide for NYC and an absolute dream for NJ," said Steven Fulop, the former Jersey City Mayor and incoming CEO of the Partnership for New York City."
Mayor-elect Zohran Mamdani and his closest advisers could not identify any cities that had successfully and meaningfully lowered the cost of living for residents. Policy experts say the prospect is unlikely and note that cost declines have typically only occurred where quality of life fell so sharply that people left. Critics argue that several proposed freebie policies could have the opposite effect and raise costs. The rent-freeze proposal could worsen conditions for rent-stabilized tenants and prompt higher costs for non-stabilized units. A leading business voice called the corporate tax hike proposal "absolute suicide for NYC." A representative for Mamdani did not respond to requests for comment.
Read at New York Post
Unable to calculate read time
Collection
[
|
...
]