US EditionUS: As New York Votes, the Democratic Party’s Future Is on the Line
Zohran Mamdani’s progressive platform includes rent freezes and higher taxes on corporations, sparking concern among financiers about New York City’s economic competitiveness.
- Zohran Mamdani, 34-year-old state lawmaker and Democratic nominee, is poised to win the New York City mayoral election on Tuesday as Wall Street worries about the city's competitiveness.
- Centering his bid on affordability, Mamdani proposes a rent freeze, free bus service, universal childcare, and higher taxes on wealthy residents and corporations.
- Opposition fragmentation left Mamdani winning with only a plurality, with Andrew Cuomo, former New York governor running as an independent, and Curtis Sliwa, Republican nominee, dividing challengers, while high-profile investors Bill Ackman and Dan Loeb poured money into efforts to defeat Mamdani.
- Investors are closely watching governors' races in New Jersey and Virginia to gauge Democratic momentum ahead of next year, as analysts say strong results could boost the Democratic Party’s House chances.
- Some analysts say worries are `somewhat overexaggerated` and urge caution, as Peter Cardillo and Brian Gardner note Mamdani may face obstacles and markets could overreact.
15 Articles
15 Articles
Trump’s shadow looms as US voters pick New York mayor, state governors
Voters in New Jersey and Virginia will choose their next governors on Tuesday in a pair of races that will serve as an early gauge of the American electorate’s mood after US President Donald Trump’s norm-shattering nine months in office. In New York’s mayoral race, Democratic nominee Zohran Mamdani, a 34-year-old democratic socialist, faces 67-year-old Andrew Cuomo, a Democrat running as a more centrist independent after losing to Mamdani in the…
Wall Street braces for New York City mayoral vote | Honolulu Star-Advertiser
NEW YORK >> Wall Street is on edge heading into the New York City mayoral election on Tuesday, with a potential victory for Zohran Mamdani set to reverberate through the heart of global capitalism, where financiers worry about the city’s lasting competitiveness and appeal.
Allocco to Newsmax: Obama Avoids New York as Democrats Battle for Party’s Soul
Former President Barack Obama's efforts to shore up Democrats in the New Jersey and Virginia elections — but not in New York — demonstrate the difficulty the party faces in trying to project a moderate image nationally while fielding more extreme candidates such as Zohran Mamdani in local races, Patrick Allocco, the founder of Zoose Political Index, told Newsmax on Tuesday. Allocco explained on Newsmax's "National Report" that "what we are looki…
Inside the DSA’s Hostile Takeover of the Democratic Party
“Hello, New York!”That was all that New York governor Kathy Hochul had to say at last month’s “New York Is Not for Sale” rally in Forest Hills, Queens, to ignite fury from the 13,000 attendees there to cheer on Zohran Mamdani.“Tax the rich! Tax the rich! Tax the rich!” the crowd yelled back at Hochul. One man near the back roared: “Nazi!” As the governor glanced down at the lectern, New York Assembly Speaker Carl Heastie shuffled behind her, sta…
The Democratic candidate promises four flagship measures to make New York more affordable, but they will cost $7 billion a year and it will not be easy to finance them.
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