# Trump: New pied-à-terre tax could speed NYC wealth exodus

Trump warned that a proposed pied-à-terre tax backed by Governor Hochul and others could accelerate wealthy residents leaving New York City. The tax targets non-primary residences to raise revenue, but critics argue it may drive investment away. The debate highlights tensions between progressive tax measures and urban economic competitiveness.

**Importance:** 3/5

## Sources

### Business
- [Fox News Business](https://www.foxbusiness.com/politics/trump-warns-new-hochul-mamdani-pied-a-terre-tax-could-accelerate-nyc-wealth-exodus) — Tue, 11 Aug 2026 20:10:12 GMT