{"id":131673,"date":"2026-05-12T11:31:55","date_gmt":"2026-05-12T15:31:55","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/gov-abbott-extends-off-ramp-for-ny-billionaires-fleeing-mamdanis-policies-131673"},"modified":"2026-05-12T11:31:55","modified_gmt":"2026-05-12T15:31:55","slug":"gov-abbott-extends-off-ramp-for-ny-billionaires-fleeing-mamdanis-policies","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/gov-abbott-extends-off-ramp-for-ny-billionaires-fleeing-mamdanis-policies-131673","title":{"rendered":"Gov Abbott extends off-ramp for NY billionaires fleeing Mamdani’s policies"},"content":{"rendered":"
\n

As New York City Mayor Zohran Mamdani<\/a> continues to advance policies targeting wealthy executives, Texas Gov. Greg Abbott is reminding billionaires that everything is bigger in Texas \u2013 including economic opportunity.<\/p>\n

Abbott is pitching his state as a refuge from liberal measures Republicans attribute to driving businesses out of the Empire State.<\/p>\n

For New York, the stakes are high: even a modest outflow of firms and top earners could dent tax revenues and reshape the city\u2019s role as a global financial hub. For Texas, the influx could mean more jobs, investment and economic clout.<\/p>\n

Against that backdrop, Abbott\u2019s office is making an aggressive case for relocation.<\/p>\n

“Governor Abbott<\/a> is proud to welcome businesses and job creators from across the country to Texas, where we have no state income tax, reasonable regulations, and a pro-growth environment that encourages free enterprise to flourish,” the governor’s press secretary Andrew Mahaleris told Fox News Digital.<\/p>\n

TAX FIGHT PUTS CALIFORNIA ON COLLISION COURSE AS BILLIONAIRES LEAVE FOR RED STATES<\/u><\/strong><\/a><\/p>\n

Mahaleris gave insight into Abbott’s business philosophy, saying that “punitive policies that target successful job-creating entrepreneurs only accelerate the trend of companies choosing Texas.”<\/p>\n

Abbott has made attracting out-of-state businesses a cornerstone of his economic strategy, a push that has paid off as Texas<\/a> continues to draw firms and executives to relocate from higher-tax states. Just last week, Dell Technologies announced a unanimous decision by its board to change the company’s legal home from blue enclave Delaware to the Lone Star State.<\/p>\n

Abbott celebrated the decision in an X post<\/a>, saying, “Welcome home, @Dell” and “This is what happens when job creators and innovators are welcomed, not punished.”<\/p>\n

The governor noted that “more businesses are sure to follow.”<\/p>\n

That kind of growth matters politically. It signals rising living standards, a stronger tax base and greater leverage to fund infrastructure, education and other priorities without raising taxes.<\/p>\n

And the results are reflected<\/a> in the data.<\/p>\n

Texas\u2019 economic output per person jumped more than 10% from 2021 to 2024, according to federal data. Meanwhile, liberal states like California<\/a> saw far smaller gains over the same period.<\/p>\n

Abbott is leaning into that growth as he works to lure firms and capital away from states like New York.<\/p>\n

FROM FREE BUSES TO CITY-OWNED GROCERY STORES, HERE ARE MAMDANI\u2019S KEY ECONOMIC PROMISES<\/u><\/strong><\/a><\/p>\n

Concerns have mass exodus from left-leaning cities and states have been thrust into the spotlight by a high-profile clash<\/a> between Mamdani and billionaire Ken Griffin, who leads Citadel, one of the world\u2019s most powerful hedge funds.<\/p>\n

The dispute was sparked by a viral April 15 video where Mamdani promoted higher taxes on non-primary residences worth more than $5 million in New York City. He specifically singled-out Griffin\u2019s record-setting $238 million Manhattan penthouse and filmed outside the 24,000-square-foot Central Park South property.<\/p>\n

Mamdani pointed to the unit as an example of the luxury second homes that would face additional annual fees under his proposal.<\/p>\n

Griffin later blasted the video as “creepy and weird,” saying at the Milken Institute Global Conference on May 6 that he watched it multiple times. He also said Citadel is reassessing its planned $6 billion Manhattan office tower, while continuing to expand in the red state of Florida, which he called “unquestionably” the right choice.<\/p>\n

Mamdani has backed a slate of progressive proposals, including higher taxes on high-value properties, expanded tenant protections and measures aimed at curbing wealth inequality in the city.<\/p>\n

CHICAGO KNOWS WHAT HAPPENS WHEN KEN GRIFFIN TURNS ON A CITY, NOW MAMDANI MAY FIND OUT<\/strong><\/a><\/p>\n

The clash is familiar ground for Griffin, who has long warned that policies targeting the ultra-wealthy and rising crime can drive business out of major cities. Those concerns prompted him to move Citadel\u2019s global headquarters from Chicago to Miami in 2022<\/u><\/a>, highlighting how quickly jobs, investment and influence can follow.<\/p>\n

For Chicago, Griffin’s move resulted in the steady erosion of one of its most prominent corporate anchors \u2014 shrinking office space, relocating employees and the departure of a billionaire who once poured hundreds of millions into the city\u2019s institutions and politics. It also meant fewer high-paying finance jobs downtown and the disappearance of a major civic and cultural benefactor.<\/p>\n

A similar dynamic could play out in New York City, home to nearly 9 million and the world\u2019s financial capital, where the loss of firms and top earners could cost jobs, drain tax revenue and shake the economy.<\/p>\n

In the nation\u2019s largest city and a global financial center, the outcome of Mamdani\u2019s proposals could shape not only the future of New York<\/a>‘s housing market, but also broader debates over regulation, taxation and urban policy.<\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/politics\/gov-abbott-extends-ramp-ny-billionaires-fleeing-mamdanis-policies <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As New York City Mayor Zohran Mamdani continues to advance policies targeting wealthy executives, Texas Gov. 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