Scott Singer, the former Republican mayor of Boca Raton and current Congressional candidate for Florida’s 25th District, is speaking out against the economic and tax policies of New York City Mayor Zohran Mamdani, warning that the business exodus from New York to red states like Florida will continue.
Singer, who has been critical of the mayor’s left-leaning agenda, claims that high taxes and socialist policies are driving business owners and job creators away from New York City.
Singer’s Criticism of Mamdani’s Policies
In a recent interview with Fox News, Scott Singer remarked that electing a “Democrat socialist” like Mamdani, who prioritizes tax increases, was a clear signal that capital and businesses would flee the city. Singer stated, “I didn’t have to be a soothsayer to know that when you elect a Democrat socialist with far-left ideas that are just intent on taxing, taxing, taxing, you’re going to cause more capital to flee.”
Singer’s comments are in line with those made in October 2025, when he predicted that business owners would increasingly relocate to places like Florida, where tax policies are generally more favorable to businesses.
He warned that Mamdani’s tax policies—which have targeted the wealthiest residents—are leading to a continued exodus. “People have already gotten wise…they’re not going to sit around for these crazy statements about taxing people just because we can,” Singer said. “It’s not going to work, and people are going to continue to move.”
Mamdani’s “Tax the Rich” Plan Under Fire
Since Zohran Mamdani took office, his “tax the rich” platform has faced criticism from high-profile figures, including Ken Griffin, the CEO of Citadel and a billionaire investor.
Griffin, in response to Mamdani’s new taxes on the wealthy, pledged to significantly increase his investment in Florida, reinforcing the notion that New York’s tax policies are driving the wealthiest individuals and businesses away.
One of Mamdani’s most controversial proposals involves taxing luxury second homes owned by ultra-wealthy individuals, a measure expected to generate at least $500 million annually.
Singer criticized this plan, arguing that taxing part-time residents who already pay high property taxes is illogical. “A part-time resident in New York City who’s already paying tons of property taxes, what, 11% more? They’re not using any services.
Why would people continue to invest there?” he said. “All they’re going to do is drive more capital away, depress values, and create fewer job opportunities.”
Singer’s Call for Economic Growth
For Singer, the path forward for New York City is clear: job growth, lower taxes, and smaller government. He emphasized that free-market policies—as seen in red states like Florida—are the key to attracting businesses and creating sustainable economic growth.
By lowering taxes and reducing government intervention, Singer believes that Florida’s economy will continue to thrive and attract businesses from states with high taxes, like New York.
Mamdani’s Response
In contrast, Mayor Zohran Mamdani has dismissed warnings of a business exodus from New York as “imagined”. He pointed out that similar predictions were made when he was a state legislator, during an earlier push to increase taxes on the wealthiest New Yorkers.
Mamdani argued that, despite the tax increases, New York saw an increase in millionaires over time, challenging the notion that high taxes necessarily lead to an exodus of wealth.
According to Mamdani, “For all of the discussion of the imagined exodus that would take place…we were told the same thing then, and what we find now is that we have more millionaires today than we did at that time even after having passed that tax.”
New York’s Population Decline
Despite Mamdani’s assertions, recent data points to a population decline in New York City. In 2025, the city experienced a net loss of about 12,000 people following post-pandemic gains in 2023 and 2024.
These earlier increases were largely attributed to immigration, including a significant number of asylum seekers. A report by the Citizens Budget Commission in April 2026 highlighted these population shifts, suggesting that while New York’s immigrant population continues to grow, a significant number of residents—particularly the wealthy—are leaving.
As New York City faces growing criticism over its tax policies and the continued migration of businesses to states with more favorable tax climates, like Florida, the debate between Mamdani’s progressive tax policies and Singer’s pro-business stance is expected to continue.
With a focus on reducing taxes and encouraging investment, Florida seems poised to remain a key destination for both businesses and individuals looking for economic stability. Meanwhile, New York will need to address the concerns over its tax policies if it hopes to reverse the trend of people and businesses leaving the city.
