The Big Money Show team gets serious as Zohran Mamdani begins his term as mayor of New York City.
I the mayor of Dallas predicts an influx of financial companies moving to the region from New York City if the newly appointed mayor of the Big Apple, Zohran Mamdani, pursues social policies in the nation’s leading financial center.
Dallas Mayor Eric Johnson told the The New York Post in an exclusive interview that Mamdani’s policy is “un-American social activism” that could force financial firms and investors alike to “vote with their feet” and move to areas with more pro-business policies.
Johnson told FOX Business that the city welcomes the companies with “open arms.”
“Dallas is not a demon for successful businesses,” Johnson added. “Businesses know where they are wanted and they will succeed. And financial services firms across the country—especially in New York—are looking to Dallas because they can clearly see that this is America’s Sanctuary City from Socialism.”
The Dallas Republican noted that Texas has no state income tax and that local governments, like the one he leads in Dallas, are working to lower other taxes and reduce regulatory burdens.
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Dallas Mayor Eric Johnson told FOX Business that he expects a “blizzard” of financial firms fleeing New York under Socialist Mayor Zohran Mamdani. (Leon Neal/Getty Images)
“I cut it property tax average every year I’ve been in the office now. So we’re talking seven straight years,” Johnson told the Post.
Mamdani has recommended a series of social welfare policies New York Cityincluding higher taxes for businesses and the wealthy, as well as downtown grocery stores and free bus service.
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New York City Mayor Zohran Mamdani has proposed a social policy platform for the Big Apple. (Andres Kudacki/Getty Images)
Johnson said, on the contrary, the low cost of living and friendly political climate in Dallas will attract New Yorkers who want to move to the growing state. financial institution.
“The cost of living is low,” the Dallas mayor told the Post. “You can have the best of New York, but you can have it in a place where you can have a great home, send your kids to great schools, and be safe.”
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Dallas is becoming one of the leading financial centers outside of New York City. (Kirby Lee)
Johnson’s efforts to woo financial firms and workers looking for a new place to live comes as Texas has emerged as a popular location for the industry.
“Now New York has a mayor who is clearly hostile to business and wants higher taxes on job creators,” he told FOX Business. “As a result, I predict an avalanche of Wall Street firms moving to Dallas.”
JPMorgan Chase employs more workers in Texas than in New York, while Goldman Sachs is building a 14-story campus in Dallas.
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