NYC Mayor Mamdani should work with the business community to solve problems, says Bill Daley

Summary

Bill Daley discusses NYC Mayor Mamdani's pied-à-terre tax proposal and the backlash from Citadel's Ken Griffin. Daley warns that targeting wealthy job creators could drive them away, harming the city's economy. He compares the situation to Chicago's loss of Griffin and the London real estate market after a similar tax.

• Mayor Mamdani proposed a tax on non-resident apartment owners, citing Ken Griffin as a target.
• Ken Griffin responded by threatening to shelve a Midtown Manhattan project.
• Bill Daley argues the mayor's anti-business approach risks driving away job creators.
• Daley cites Griffin's move from Chicago to Florida as a precedent for relocation.
• The London real estate market declined after a similar tax was implemented.
• Daley notes New York faces a $10 billion deficit, and the proposed tax raises only $500 million.
• Daley emphasizes the need for mayors to engage the business community to solve problems.
• The discussion highlights the delicate balance between taxing the wealthy and retaining business investment.