JPMorgan Chase CEO Jamie Dimon told Fox Business’s Mornings With Maria Friday that he had a candid meeting with New York City Mayor Zohran Mamdani where no subject was off the table, including the mayor’s new tax proposal for billionaires.

Mamdani recently posted a video to social media where he explained his new pied-à-terre tax that will “levy an annual surcharge on one- to three-family homes, condominiums and co-ops valued above $5 million when owners have a separate primary residence outside of New York City.”

Dimon told Maria Bartiromo at the Reagan International Economic Forum in Simi Valley, CA, that Mamdani’s proposed tax was “embarrassing,” as state legislators were set to vote on the proposal.

“Look at the policy in New York right now and in California,” Bartiromo said. “You’ve got people leaving California because of this potential billionaires’ tax. What do you want to say about this Mamdani in New York?”

“Good policy is free!” Dimon exclaimed. “I feel like telling the politicians, don’t try to raise more taxes and spend more money — sit down and fix policy! I think it could grow one percent faster. I really believe that.”

“And you — the public knows you can’t get certificates of occupancy. You can’t get roads built, the bridges — like the Baltimore Bridge — was supposed to be built by now. It’s another five years,” Dimon said. “I go on and on and on. It’s frustrating, it hurts, it’s embarrassing, and it always hurts the civilians of our country.”

Dimon continued, “I had a great meeting with Mamdani, meaning it’s pleasant, but I said everything I want to say —”

“You did?” Bartiromo asked.

“About what America does, about what JPMorgan does, about my grandparents came here for the same reason his parents came here — to be part of this country. They were Greek immigrants — a little bit Italian, by the way — who never finished high school,” Dimon said.

“And I want him to succeed, and we’ll see what he does,” Dimon said. “He was very polite, he was very earnest. We had a very good conversation. But I said everything I wanted to say…And I talked about affordable housing and childcare. Most people want it — If you do it badly, it will be a disaster. The thing is, do it right! There are studies that can tell you how to do it right. Get people who know what they’re doing, and implement proper policies.”

“I said this too,” Dimon said. “I’ve seen mayors grow into the job. I mean, he is running a city of 300,000 employees now. He has never had a job like that. I’ve seen mayors who just — they fail abysmally because they can’t administer themselves out of a paper bag…or ideology blinds them to practical, realistic, real-world policy. And so, we’ll see. And then if I can help him do the good stuff, I’d be happy to do that.”

Watch the clip below via Mornings With Maria on Fox Business Network.

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