New York mayoral frontrunner Mamdani leaves business leaders divided on opposition strategy
Following Cuomo's announcement that he would stay in the race as an independent after losing to Mamdani, New York-based CEOs have yet to coalesce behind either the former governor or incumbent Adams in their bid to defeat Mamdani, a Democratic socialist who won the primary in June.
Several business leaders who would only speak under the condition of anonymity said they would support Cuomo, while others were backing Adams, a former police captain who was elected mayor as a Democrat in 2021 but this year decided to run as an independent, as less sure of the former governor's chances. Many leaders are taking a wait-and-see approach -- though others believe that could be a bad move, keeping another candidate from gaining momentum.
Mamdani won the June 24 primary with 56% of the vote, bolstered by young voters drawn to his social media presence and messaging focused on solving the city's affordability crisis. Polling suggests he would prevail over a fractured field of Cuomo, Adams and Republican candidate Curtis Sliwa, but some polls suggest Cuomo would win a head-to-head matchup against Mamdani in heavily Democratic New York.
Business owners are concerned that Mamdani's proposals, which include rent freezes, free city buses and city-owned grocery stores, would add to residents' tax burden and cause an exodus of capital.
Mamdani says his plans, which also include free childcare, would be paid for by raising corporate taxes and imposing an additional 2% income tax on New Yorkers earning more than $1 million a year.
'I can only vote for one candidate in November, and that decision won't be made until closer to Election Day,' said Jared Epstein, president of real-estate owner and developer Aurora Capital Associates, in an email. 'Until then, like nearly every one of the 20,000 contacts in my phone, my position is simple: ABZ – 'Anyone But Zohran.'"
Mamdani has raised about $820,000 since the primary through July 21, according to the city's campaign finance board. Few prominent business leaders have publicly come out in support of Mamdani, who has received endorsements from unions that previously backed Cuomo. In recent days, Mamdani met with executives in a meeting organized by the nonprofit Partnership for New York City.
"He did a pretty good job of making the case that he was open to conversations, discussion and learning, and that he wanted to build a coalition that would represent all New Yorkers," said Kathy Wylde, president and chief executive officer of the group.
Cuomo has said he would drop out by September if he isn't the clear favorite and has urged others to do the same, though by state law his name would remain on the ballot. He has raised just $64,000 since June 10.
Adams has raised roughly $1.5 million since June 10. Maria and Kenneth Fishel, who own luxury real estate company Renaissance Properties, hosted a fundraiser for Adams in Long Island's Hamptons over the 4th of July weekend. Adams has also received support on social media from hedge-fund managers Bill Ackman and Daniel Loeb. He has been endorsed by 13 police unions.
Hedge fund manager Whitney Tilson, who ran in this year's Democratic mayoral primary, receiving just 0.8% of the vote, said in an email that once the election is one month away, "it will hopefully be clear who's better positioned to beat Mamdani and ONLY THEN should the other guy drop."
Neither Cuomo nor Mamdani's campaigns responded to a request for comment.
Todd Shapiro, spokesperson for Adams, said Adams made New York stronger after the pandemic and will continue to deliver results for the business community in New York.
Sliwa, who is polling behind both Mamdani and Cuomo, said he is not planning on dropping out; Sliwa, as the Republican candidate in the 2021 mayoral general election won 27.8% of the vote.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
28 minutes ago
- Reuters
Trump declines to say if he supports or opposes potential Gaza takeover by Israel
WASHINGTON, Aug 5 (Reuters) - U.S. President Donald Trump declined to say whether he supported or opposed a potential military takeover of Gaza by Israel and said his administration's focus was on increasing food access to the Palestinian enclave under assault from Washington's ally. "As far as the rest of it, I really can't say. That's going to be pretty much up to Israel," Trump told reporters on Tuesday. Israeli Prime Minister Benjamin Netanyahu met senior security officials on Tuesday, with media reporting he favored a complete military takeover of Gaza.
Daily Mail
28 minutes ago
- Daily Mail
Marjorie Taylor Greene begs Trump to pardon disgraced fabulist George Santos after dramatic letter from prison
Marjorie Taylor Greene penned a letter urging Donald Trump to pardon disgraced former Congressman George Santos following the release of his emotional letter from behind bars demanding clemency. Santos was sentenced to seven years in prison after pleading guilty to wire fraud and identity theft and reported to jail less than two weeks ago. He was found guilty of fabricating thousands of dollars in campaign finance records during his successful 2022 congressional campaign. Prior to his conviction, a 2023 House Ethics Committee report found that he spent donors' money on Botox treatments, trips to casinos and at high-end luxury retailers. In an emotional letter penned from prison on Monday, Santos said he's facing harsh bathroom conditions in the medium security prison in New Jersey. Santos, 37, claimed that he started to cry after putting on a 'fluorescent yellow jumpsuit that made me feel like a caution sign in human form.' 'The tears came faster than I could stop them,' Santos wrote. 'I didn't care who saw. That reflection, in that moment, made the weight of my decisions, my mistakes, and the road that led me there all too real.' 'The bathroom, though, deserves its own horror novel,' he continued. 'The closest thing I can compare it to is an abandoned gym locker room from a forgotten high school - grim, damp, smelling of mildew and regret.' In a letter to the Justice Department on Monday, Greene urged the administration to ask the president for clemency consideration for Santos. The conservative firebrand claimed in her letter that Santos' sentence 'extends far beyond what is warranted.' She called his seven-year sentence 'excessive' and noted that other lawmakers who have 'done far worse still walk free.' 'George Santos has taken responsibility. He's shown remorse. It's time to correct this injustice. We must demand equal justice under the law!' But it's curious timing as Greene has fallen out of Trump's tight inner circle and GOP leadership. Earlier this week, the Georgia lawmaker told the Daily Mail that she believes the GOP is abandoning the 'America first' principles of the MAGA base. 'I think the Republican Party has turned its back on America First and the workers and just regular Americans,' she said. Although Greene did reiterate her loyalty to Trump, she has split with the administration's stance on Gaza by calling Israel's actions a 'genocide.' MTG also recently demanded the DOJ release all files relating to Jeffrey Epstein. Greene's letter also comes after Trump declined to rule out pardoning Santos during an interview with Newsmax last week. However, the president noted that Santos did 'lie like hell' during his Congressional tenure. Trump went on to praise Santos because his 'vote was solid' for Republicans, while adding, 'And I didn't know him, but he was 100 percent for Trump.' The president concluded that no one has approached him about pardoning the former GOP lawmaker. Santos has previously stated that he asked the White House for clemency consideration. In the past, Trump has provided sweeping pardons and clemency to individuals who have proven to be loyal supporters of his administration. Upon assuming office for his second term, Trump issued pardons for all individuals imprisoned for the Capitol riot on January 6th, 2021. Santos became embroiled in numerous scandals for lying about his education, employment history and personal wealth. After a scathing Ethics Committee report on his campaign's financial abuses, Santos was expelled from Congress in December 2023. He became the sixth lawmaker ever to be expelled from Congress and the only member thrown out without having been convicted of a crime. During this time, Greene was one of the few lawmakers who publicly supported Santos in Congress. Meanwhile, Santos dismissed his indictments - and eventual conviction - for money laundering and fraud as a 'witch hunt.'
The Guardian
28 minutes ago
- The Guardian
US judge blocks Trump officials from diverting disaster prevention grants
A federal judge blocked the Trump administration on Tuesday from diverting funds from a multibillion-dollar grant program designed to protect communities against natural disasters. US district judge Richard Stearns in Boston issued a preliminary injunction preventing the government from spending money allocated to the Building Resilient Infrastructure and Communities (Bric) program for other purposes. Twenty mostly Democratic-led states sued the administration last month, saying the Federal Emergency Management Agency (Fema) lacked power to cancel the Bric program without congressional approval. Fema is part of the Department of Homeland Security (DHS). Neither agency immediately responded to requests for comment. Created in 2018 during Donald Trump's first term, the Bric program helps state and local governments protect major infrastructure such as roads and bridges before the occurrence of floods, hurricanes and other disasters. According to the lawsuit, Fema approved about $4.5bn in grants for nearly 2,000 projects, primarily in coastal states, over the last four years. But the agency announced in April it would end the program, calling it wasteful, ineffective and politicized. Stearns said that while Fema does not appear to have since canceled grants, states should not have to wait to sue until after they lose funding, while the cancellation of new grants suggested Fema considered an eventual shutdown a fait accompli. He also said the states have shown a realistic chance of irreparable harm if the Bric program ended. 'There is an inherent public interest in ensuring that the government follows the law, and the potential hardship accruing to the states from the funds being repurposed is great,' the judge wrote. 'The Bric program is designed to protect against natural disasters and save lives,' Stearns added. 'The potential hardship to the government, in contrast, is minimal.' Led by Massachusetts and Washington, the 20 states that sued also include Arizona, California, Colorado, Connecticut, Delaware, Illinois, Maine, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, Vermont and Wisconsin. The offices of Massachusetts' and Washington's attorneys general had no immediate comment.
