NYC mayoral candidate Scott Stringer plans zoning change to stop Trump from selling fed buildings
NEW YORK — Mayoral candidate Scott Stringer is proposing a new zoning designation to block President Donald Trump from auctioning off federal buildings to luxury developers, the Daily News has learned.
The plan, dubbed Safeguarding Historic Infrastructure through Effective Land-use Defenses, or SHIELD, would create a new 'federal use' zoning category that would require any such deal to go through a lengthy public review, and it would give the City Council the ability to block it.
'As mayor, I will fight to protect our civic infrastructure, using all the tools at my disposal to protect it from Trump selling it to the highest bidder,' Stringer said in a statement. 'Under this new zoning rule, if Trump wants to hatch a scheme to line his or his cronies' pockets, he'll have to go through New Yorkers first.'
There are just four buildings in New York that could be at risk and would fall under this federal policy, including the 41-story Javits Federal Office Building in lower Manhattan, which is home to Immigration Court and Immigration and Custom Enforcement's local field office.
Stringer's proposal to take on this niche issue for the city would require a new text amendment to the city's zoning rules, which would itself require a months-long process in order to be put in place.
A Stringer campaign spokesperson said the proposal is relatively uncontroversial, so it could be adopted more quickly, and that a prospective developer might be turned off by the idea of going through a long process.
The Trump administration last month released, but then walked back a list of hundreds of buildings across the country that it was considering selling off. The administration has said it is continuing to identify government buildings that it potentially could put up for bids.
Under the proposed new designation, the structures would gain a 'special use' condition on top of their underlying zoning.
Then, if the feds tried to sell one of the properties, the developer would have to get a special permit from the City Planning Commission. That, in turn, would trigger the months-long Uniform Land Use Review Procedure, or ULURP, that goes through various levels of city government for approval, with the City Council getting the final say.
Mayoral candidates running in the Democratic primary election have been eager to show how, if elected, they each would stand up to Trump's threats, with many pitching plans to counter Trump's threats to pull federal funding.
Former Governor Andrew Cuomo faced early criticism for saying he'd be open to working with the president, and has since leveled more blows at Trump — although he's still facing backlash for taking donations from Trump allies.
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That means a 23% benefit cut would be necessary in 2035. Fortunately, the lawmakers in Washington have several years to find a better solution. Here are four Social Security changes that could prevent deep, across-the-board benefit cuts. 1. Apply the Social Security payroll tax to income above $400,000 Social Security is primarily funded by a dedicated payroll tax, which takes 6.2% of wages from workers and employers. But some income is exempt from the payroll tax. Specifically, the maximum taxable earnings limit is $176,100 in 2025. Income above that threshold is not taxed by Social Security. Importantly, the Social Security program is projected to run a $23 trillion deficit over the next 75 years as it's strained by shifting demographics. But the deficit could be slashed by applying the payroll tax to more income. For instance, including income above $400,000 would eliminate 60% of the 75-year funding shortfall, says the University of Maryland. 2. Gradually increase the Social Security payroll tax rate to 6.5% over six years Under current law, the Social Security payroll tax rate is 6.2% for workers and their employers. But gradually raising that figure would eliminate a portion of the long-term deficit. For example, increasing thetax rate by 0.05% annually over a six-year period would eliminate 15% of the 75-year funding shortfall, according to the University of Maryland. Now that I've discussed two possible changes, let's step back and look at the big picture. There are basically three ways to resolve Social Security's financial problems: (1) increase revenue, (2) reduce costs or (3) some combination of the first two options. The changes discussed so far would increase revenue, but the next two changes would cut benefits. However, they are more subtle cuts than the 23% across-the-board reduction that would follow trust fund depletion. 3. 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Specifically, income from the 35 highest-paid years of work is adjusted for inflation and converted to a monthly figure called the average indexed monthly earnings (AIME) amount. The AIME is then run through a formula that uses two bend points to determine the PIA for each worker. Modifying the second (highest) bend point would eliminate a portion of the long-term deficit by reducing benefits for high earners. For instance, the University of Maryland estimates that reducing benefits for individuals with income in the top 20% could reduce the 75-year funding deficit by 11%. Here's the big picture: The four changes I've discussed would eliminate 101% of Social Security's $23 trillion funding shortfall, which would prevent across-the-board benefit cuts in 2035. The Motley Fool has a disclosure policy. The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY. The $23,760 Social Security bonus most retirees completely overlook Offer from the Motley Fool: If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets"could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. JoinStock Advisorto learn more about these strategies. View the "Social Security secrets" »
