Bloomberg Talks Partnership for New York City CEO Kathy Wylde Talks NYC Mayoral Election
Nov 4, 2025
Kathy Wylde, President and CEO of the Partnership for New York City, offers keen insights into the NYC mayoral election's impact on businesses and the economy. She highlights record voter turnout and the emergence of a young nominee, emphasizing the need for political stability and affordability. Kathy explains the limitations on the mayor's tax authority and discusses housing challenges, advocating for swift affordable housing solutions. With rising migration risks due to high living costs, she also shares how public-private partnerships could be crucial in navigating fiscal constraints.
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Youth Turnout Drove Surprise Nomination
- Record turnout and young voters propelled an unexpected candidate to the Democratic nomination.
- Voters are driven by affordability concerns rather than a desire to overhaul capitalism.
Business Seeks Stability And Affordability
- The business community chiefly wants political stability and affordability from the next mayor.
- Both sides agree on affordability but disagree on how to achieve it, especially on taxes.
Mayoral Limits On Tax Authority
- The mayor cannot unilaterally raise income or corporate taxes under the state constitution.
- State officials and fiscal controls limit city-level tax and spending changes.