New York Mayor proposes tax that will ‘come’ for houses of Jeff Bezos and other rich

New York City Mayor Zohran Mamdani has proposed a new “pied-à-terre tax” targeting non-primary residences valued over $5 million. This move could impact billionaires like Jeff Bezos and Michael Dell, aiming to generate $500 million annually for public services. Critics, however, warn of potential negative impacts on city investment.