12 August 2026 at 6:36 pm
Summary
New York City's new pied-à-terre tax on high-value second homes, championed by Zohran Mamdani and signed by Governor Kathy Hochul, is facing backlash, including from former President Donald Trump. Trump argues the tax will cause wealthy residents to leave the city, while Hochul defends it as a matter of fairness to help close a significant budget gap.
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