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Ken Griffin: Trump slams Mamdani over New York pied-à-terre tax

Ken Griffin is not in the facts here, but Trump and Mamdani traded sharp words over a pied-à-terre tax in New York City.

Zohran Mamdani responds after President Trump rips NYC mayor over tax the rich agenda
Zohran Mamdani responds after President Trump rips NYC mayor over tax the rich agenda

President on Thursday said was “destroying New York,” sharpening his attack on the city’s mayor just a day after Mamdani and Governor announced a new pied-à-terre tax on luxury homes. Trump made the comment in Las Vegas and repeated the criticism on social media, saying of Mamdani, “I mean, he's a nice guy. Calls me all the time, says hi, but his policies are no good.”

Mamdani answered on Friday by defending the proposal, saying the tax on non-city residents who buy luxury properties in New York City would raise “half a billion dollars every year.” He said the money would go to “essential city services like free child care, cleaner streets and safer neighborhoods,” and added, “The president and I both want this city to succeed. This is how you do it.”

The dispute landed one day after the mayor and Hochul unveiled the tax, which would target non-resident secondary homes worth more than $5 million. Mamdani said he is “deeply supportive of taxing the rich,” arguing that the new levy fits that view. The plan is designed to tap wealthy owners who keep expensive city apartments as secondary residences, a long-running target of housing advocates who say the properties sit empty while the city struggles to pay for basic services.

Trump’s attack created a stark political contrast with Mamdani’s pitch. The president framed the mayor as a threat to the city’s future, while Mamdani cast the same policy as a way to fund the services New Yorkers say they need most. That split sets up the next fight over whether the tax can move from announcement to reality — and how much revenue it would actually bring in once the city starts trying to collect it.

The clash also underscores how quickly the tax has become a test of New York’s direction. Mamdani is betting that higher taxes on luxury property owners can help pay for child care, cleaner streets and safer neighborhoods. Trump is betting that message will land with voters as an example of what he says is going wrong in the city.

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