Gov Abbott extends off-ramp for NY billionaires fleeing Mamdani's policies

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. New York leaders, including Mayor Zohran Mamdani and Governor Kathy Hochul, are facing a significant wealth exodus as Democratic tax policies escalate. Scott Singer, former Mayor of Boca Raton, Florida, highlights that high taxes in New York are causing job creators and capital to flee to states like Florida, where economic growth is valued over punitive taxation. As New York City Mayor Zohran Mamdani continues to advance policies targeting wealthy executives, Texas Gov. Greg Abbott is reminding billionaires that everything is bigger in Texas – including economic opportunity. Abbott is pitching his state as a refuge from liberal measures Republicans attribute to driving businesses out of the Empire State. For New York, the stakes are high: even a modest outflow of firms and top earners could dent tax revenues and reshape the city’s role as a global f