Attorney Mike Lawler, RN.Y., joins ‘Varney & Co.’ scrutinizing whether NYC mayor-elect Zohran Mamdani will follow through on her agenda, the Trump administration’s rollout of rural health funding as Obamacare funding expires, and the 2026 midterms.
Trump’s Crypto Czar David Sacks predicts that Miami will dethrone New York City as the nation’s financial capital following the inauguration of Socialist Zohran Mamdani as the city’s 111th mayor.
Sacks, a venture capitalist appointed as Trump’s influential adviser on artificial intelligence and cryptocurrency, said in a post on X that if progressive policies continue, it will drive New York’s capital and talent to move to the “Sunshine State.”
Miami Mayor Francis X. Suarez responded to Sacks in X, saying that companies with less than $13 trillion in assets have already moved their office or headquarters to Miami.
Sacks also pointed out that progressive policies in San Francisco will push talent and investment to Austin, Texas, making it the new tech capital. A California city has recently developed some of the most aggressive policies in the country. Earlier this month, the city’s Democratic mayor, Daniel Lurie, signed legislation creating a “Restoration Fund” that would eventually provide eligible Black residents with up to $5 million for alleged historic discrimination and evictions.
NYC SOCIALIST DEM ZOHRAN MAMDANI WINS PRIMARY ELECTION: WHAT IS HIS ECONOMIC PLAN
The measure, passed by the Board of Supervisors and signed by Lurie, creates the official fund structure but does not allocate city money or guarantee payments.
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Zohran Mamdani, New York City mayoral candidate, speaks during the United Federation of Teachers mayoral forum in New York on May 17, 2025. (Michael Nagle/Bloomberg/Getty Images/Getty Images)
Sacks announced in a separate post on X this week that Craft Ventures has opened an office in Austin. It sparked a response from Tesla’s Elon Musk who replied: “Welcome to Texas! No one will fight harder for the independent and free spirit of Texas than the people who know it’s like where it’s taken from.”
On New Year’s Day, Mamdani, a self-proclaimed democratic socialist, was officially sworn in as mayor in a midnight ceremony by New York Attorney General Letitia James. During his inauguration, Mamdani promised to “lead millions of New Yorkers into a new era of opportunity,” echoing his campaign’s focus on making New York City affordable.
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In November, Mamdani defeated former New York Governor Andrew Cuomo and Republican Curtis Sliwa, leading to a rapid rise in his political career. However, his progressive agenda faced a major backlash from business leaders who viewed his policies as a direct threat to capitalism.
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Mamdani’s platform focused on issues popular with social workers in the Democratic Party, including raising the minimum wage, increasing taxes on corporations and wealthy Americans, tightening regulations on delivery apps, investing in affordable housing, and creating downtown grocery stores.
Eric Revell of FOX Business contributed to this report.
