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Feb 18, 2026
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AVOID
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NYC Mayor is threatening a property tax hike if a wealth tax isn't passed. Fulip notes this would push NYC corporate taxes to ~22% compared to 11% in neighboring New Jersey. The tax disparity creates a "trip wire" for businesses. Fulip highlights that JPMorgan (JPM) now has more employees in Texas than in NYC, signaling a structural shift of business operations away from the city due to fiscal policy. Avoid NYC-centric real estate and commercial exposure as the tax burden threatens to drive further corporate exodus. The Governor (Hochul) may block the tax proposals, maintaining the status quo. |
CNBC
Squawk Pod: Baby Formula, A Tax Hike, & The L...
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