New York, NY - Disconnect Between Mayor De Blasio, NYC’s Business World
New York, NY – A list of Mayor Bill de Blasio’s stances when first taking office – increase taxes on the wealthy, raise minimum wage and expanding sick pay for private sector workers – has made business those in the business world wary of his policies, viewing them as antibusiness.
The feelings range from small firms to Wall Street. Since de Blasio took office earlier this year, he release plans to lower small-business fines, proposed a budget that doesn’t raise property taxes and formed a group focused on jobs seemingly to keep the worriers at bay according to The Wall Street Journal (http://bit.ly/1sisoOp ).
De Blasio’s tax increase on the wealthy was blocked by Gov. Andrew Cuomo but some business leaders are worried he’ll try to recover it again according to Ron Geffner, vice president of the Hedge Fund Association.
Because of these worries, de Blasio spoke at a private event a few weeks ago in front of more than 70 executives – including BlackRock CEO Laurence Fink, Guardian Life Insurance Company of America CEO Deanna Mulligan and Kenneth Chenalt, CEO of American Express – to positive reactions.
But small businesses are still less than thrilled with the mayor’s policies, specifically expansion of minimum wage and sick-pay laws.
Despite feelings of worry for the future, de Blasio has convinced the tech world and real estate firms he can build business positively in the city. His administration is working with the tech trade to bring talent to NYC and expand broadband access, and real estate firms applaud his pro-development policies.
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