Jeff Bezos Backs Mamdani’s New Housing Tax: ‘Makes Sense’
Summary
Jeff Bezos supports New York City’s plan to tax second homes worth over $5 million, called the pied-à-terre tax. The tax aims to raise money from wealthy property owners to help the city’s budget, while Bezos also favors lowering taxes for working-class people.Key Facts
- The pied-à-terre tax targets second homes in New York City valued above $5 million.
- The tax is expected to raise about $340 to $500 million per year.
- New York Governor Kathy Hochul agreed to include this tax in the state budget as a compromise.
- Mayor Zohran Mamdani strongly supports taxing wealthy property owners in the city.
- Hedge fund founder Ken Griffin opposes the tax and objected to being publicly targeted in a video.
- Jeff Bezos defended Griffin but still said the pied-à-terre tax “makes sense.”
- Bezos compares the tax to hotel taxes, which are higher because tourists are charged more.
- Bezos also supports lowering taxes for working-class people and said he might discuss it with President Donald Trump.
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