Zohran Mamdani FUMES As Democrat NYC City Council BETRAYS Him After REJECTING Insane Tax Increase!

Our responsibility is to try to identify

areas of savings.

>> The city council says it's found the

necessary savings to plug the city's

fiscal hole. City Council Speaker Julie

Mannon unveiled a $6 billion savings

proposal as an alternative to Mandani's

doom and gloom approach that calls for a

possible increased property taxes and

dipping into the city's savings.

>> We can find the savings in the way that

we did without cutting services. So, our

position has been clear. We have been a

hard no on the property tax. We also are

hard no on rating the rainy day fund.

>> The plan aims to plug the hole by

reestimating the city's costs and

revenues. 3.5 billion would be achieved

through things like increasing the

department of buildings revenues by $80

million for permits and late fees and

reestimating the cost of city salaries

to not fund vacant positions that could

save $860 million. Meanwhile, another

2.5 billion will be saved through things

like auditing education department

contracts that would save 175 million

and reestimating debt services savings

to include an additional $24 million.

It's a plan that got a failing grade

from the mayor.

>> Cherry-picking specific expense items

that have a surplus

without accounting for the fact that

those are the very kinds of surpluses

that are typically used to address

individual deficits within departments

and agencies. It does not present an

honest picture of what this budget is.

>> Mayor Miy called the council budget

unrealistic because of its lack of a

revenue source. At an unrelated press

conference, Mom Donnie criticized some

of the council's proposals like the

vacancy savings.

>> That kind of a plan puts the city on the

hook for money that will not actually

appear. It will force the city to cut

services elsewhere in order to find that

kind of funding.

>> Boy, oh boy. Oh boy. Oh boy. Oh boy. So,

we got to talk about some news out of

New York City involving Zora Mandami's

socialist utopia game plan, which seems

to be running into some issues with

reality, right? Uh the fact is that free

stuff ain't free. And Mandami has been

trying to find a way to pay for free

stuff, mainly through begging the state

for more money in order to tax the rich.

And if the state does not tax the rich

to give the money to New York City, then

he's going to raise property taxes on

everybody, okay? Aka, he's going to tax

the middle class, which is ultimately

the result of tax the rich. Okay? Taxing

rich ultimately just means tax the

middle class. And that ultimately leads

to people leaving the city. Okay? Mainly

the rich, right? Who bring in the

revenue and the middle class gets stuck

holding the bag.

Why are you buying more real estate in

Mont Donny's Manhattan right now?

>> I Well, it wasn't it wasn't the mayor

when we start we started building that

building 5 years ago.

And but here's here's a lesson and this

lesson is true for companies, cities,

states, and countries. You got to

compete. There's no divine right to

success. Just read the history books. So

our headcount in Manhattan has when I

got to JP Morgan was 35,000 and now it's

26,000. Our headcount in in Texas it is

started at 11,000 now it's 33,000 that's

what happens and you know part of the

highest individual taxes highest estate

taxes highest corporate taxes anti-

business sentiment you know and that's

what happens and you know you could be

any ideologue you want but that's the

real world and people vote with their

feet and you can't get mad at them you

know it's a free if you believe in a

free country if someone wants to move to

Florida that's their right and so yeah

if they make too many mistakes you know

Mayors, including Mayor Mandami, should

worry about police, hospitals, uh,

subways, sanitation, storms, health

care, schools. It's got nothing to do

with Democrats and Republicans. And

ideology distorts reality when it comes

to something like that. So, uh, but our

building's great. We're still there.

It's got some of the best people. But I

think when I grew up as a kid in New

York City, and you don't probably don't

know this, there were 120 of the Fortune

500 were headquarters there. In the

1970s, 60 of 120 left, including Exxon,

GE, IBM, United Car, Union Carbide. I

mean, that's not what you want. And

they're all going to Texas, you know,

basically or or Nevada.

>> Yeah. And that is why New York City is

in for the same brutal reality check

that Chicago received when they

basically tried to do the same thing,

right? The socialist mayor of Chicago

say, "Hey, we're going to tax the rich,

right?" And then ultimately tax the rich

ended up being tax the middle class.

Okay? You had woke Mayor Brandon Johnson

proposing to increase property taxes on

individuals despite campaigning on not

doing that, right? He had to break his

promise. Okay? and he pushed for

property tax increases the same way that

Zoron is doing right now in order to pay

for the socialist utopia. Uh you had the

city council of Chicago, overwhelmingly

Democratic, they had to step in into

override uh woke mayor Brandon Johnson's

worst socialist impulses even though uh

it still resulted in tax increases

regardless. It's just um the question of

how bad is it going to be, right? If you

let socialists have their way, right,

fully, uh then yeah, it's it's it's

going to be terrible. Okay? Uh but when

there's compromise, you still end up

with tax increases, fees, because uh

socialists and uh so-called moderate

Democrats, okay, or uh liberal Democrats

who are not full-blown leftists still

believe in tax increases. They just

believe in doing it in roundabout ways,

right? Nickel and dimeing you, okay?

rather than just, you know, outright

taxing you into oblivion. Okay? Uh and

they both believe in not cutting

spending. Most importantly, they both

believe that, hey, we can't cut spending

no matter what because their political

careers are really built on uh handing

people free stuff, right? Uh so when

they cut back on the social programs, uh

that is politically toxic. Okay? And the

same pattern is playing out uh here in

New York City with Zoran Mandami and the

New York City city council that is now

revoling against him in the a similar

way that the Chicago city council

revolted against Brandon Johnson by

saying that no no we don't agree with

your socialist budget. Right? We don't

agree with these property tax increases.

Uh we don't want that. Right? We can

find other ways to close the budget gap

without increasing property taxes. So,

you have a full-blown revolt happening

from the New York City city council,

mainly Democrats, right? Just like the

Chicago City Council, uh, and what they

did to Brandon Johnson. So, we have

history playing out once again with a

socialist mayor, uh, versus, uh,

Democrats who aren't as ideologically

extreme as the mayor. So, without

further ado, let's go ahead and get into

this.

>> A budget breakthrough in New York City.

The city council says it has cobbled

together a savings plan that would solve

the city's multi-billion dollar deficit

without raising property taxes. Mayor

Mom Donnie is already ripping the

council's plan, saying it would result

in the slashing of crucial city

services. Pix 11's chief political

reporter Henry Rosoff joining us now

live in the newsroom. Try try to help us

make sense of all of this.

>> Well, it's understandable surely if New

Yorkers have a little bit of whiplash

here. So, just to recap very quickly,

the mayor has said the city's budget is

in such bad shape, you might have to