President Donald Trump criticized New York City Mayor Zohran Mamdani on Thursday after the mayor and Governor Kathy Hochul proposed a tax on secondary homes worth $5 million or more in the city, flipping his surprisingly cordial relationship with Mamdani on its head.
The proposed tax has support from New York Gov. Kathy Hochul.
Photo by ANGELA WEISS,SAUL LOEB/AFP via Getty Images
The president accused Mamdani in a post of destroying New York City, saying, “The TAX, TAX, TAX Policies are SO WRONG.”
Mamdani and Hochul proposed the pied-à-terre tax this week, targeting secondary homes in New York City valued at $5 million or more.
The tax is estimated to generate at least $500 million annually for the city, with Hochul adding Thursday, “If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker.”
Trump said the U.S. “should not contribute to” New York City’s “failure.”
Mamdani called out hedge fund billionaire Ken Griffin in a video about the proposal, recording a video outside a building housing the billionaire’s New York City penthouse and saying the tax targets, “Those who store their wealth in New York City real estate, but who don’t actually live here.” Forbes estimates Griffin’s net worth at $50.8 billion.
Following Mamdani’s election as New York City mayor last year, Trump met with Mamdani in a friendly White House meeting in which the two focused on the similarities between their competing platforms. The cordial nature of the meeting surprised observers, as Trump and Mamdani traded jabs in the leadup to the mayoral election that included the president threatening to arrest Mamdani over a call he made to remove Immigrations and Customs Enforcement from New York City neighborhoods. Mamdani’s platform revolved around affordability, proposing a "fare-free" bus service in New York City, universal childcare, rent protections and more public housing. Last month, the mayor announced a program to speed up construction of affordable housing on city-owned land.
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