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S TIME PANDEMIC WEALTH ADVISORS MARK AVALLONE WILL BE HERE. JOIN US FOR CONGRESSMAN JEFF VAN DREW FROM NEWBURGH INTO NEW JERSEY, 630. FORMER ENERGY SECRETARY DAN BROUILLETTE RIGHT HERE. ALL THAT COMING OUT THE HOT TOPIC OF THE HOUR. DEMOCRAT SWEEP MAJOR ELECTIONS ACROSS THE COUNTRY LAST NIGHT IN THE MAYORAL RACE, IN THE GOVERNOR'S RACE IN VIRGINIA AND NEW JERSEY. FOX BUSINESS DYLAN BOTELHO LIVE IN WASHINGTON.
>> I THINK WE CAN SAY RIGHT NOW THE POLLING TURNED OUT TO BE ACCURATE FOR THE HIGH-PROFILE ELECTIONS. DEMOCRATS WINNING FROM NEW YORK DOWN TO VIRGINIA. STARTING WITH DEMOCRAT SOCIALIST ZOHRAN MAMDANI WINNING AGAINST ANDREW CUOMO WOULD TAX THE RICH AND FREE PUBLIC TRANSIT. OVER THE RIVER MIKIE SHERRILL, A FORMER NAVY HELICOPTER PILOT, SECURING HER WIN OVER REPUBLICAN JACK CIATTARELLI. AND FINALLY, GOING DOWN TO VIRGINIA, ABIGAIL SPANBERGER RECLAIMING THE GOVERNOR'S. MANCHIN FOR DEMOCRATS OVER WINSOME SEARS.
ZOHRAN MAMDANI, THE MOST CONTROVERSIAL OF THE RACES, WITH THE 34-YEAR-OLD ENDING FOR NOW THE CUOMO POLITICAL DYNASTY, DEFEATING NEW YORK GOVERNOR. THE 20 MINUTE VICTORY SPEECH LAST NIGHT DIRECTLY ATTACKING THE OLD POLITICAL ESTABLISHMENT, FURTHER PUSHING AS FAR LEFT AGENDA AND ALL BUT DECLARING WAR ON PRESIDENT TRUMP.
>> IF ANYONE CAN SHOW A NATION BETRAYED BY DONALD TRUMP HOW TO DEFEAT HIM, IT IS A CITY THAT GAVE RISE TO HIM. DONALD TRUMP, SINCE I KNOW YOU'RE WATCHING, I HAVE FOUR WORDS FOR YOU: TURN THE VOLUME UP.
ZOHRAN MAMDANI, WHO HAS BEEN FACING QUESTIONS OVER THE ANTI-POLICE DANCES AND ACCUSATIONS OF ANTI-SEMITISM, ONE THE RACE PRETTY DECISIVELY WITH THE RACE BEING CALLED ONLY 40 MINUTES AFTER THE POLLS CLOSED AT 9:00 P.M.
MARIA: IT WAS FAST. DARREN BOTELHO HOW JOINING US. WHAT DOES THAT MEAN, TURN THE VOLUME UP?
>> THAT WAS THE STRANGEST THING I'VE EVER HEARD. IT MAKES NO SENSE. I DON'T KNOW WHAT HE WAS REFERRING TO. WHAT MAKES SENSE HERE IN NEW YORK? 1% OF THE POPULATION PAYS 48% OF THE INCOME TAX. CAPITAL GOES WHERE IT'S TREATED BEST. IF YOU COULD PAY FOR THE HANDOUTS BY TAXING THE WEALTHY, PEOPLE WILL LEAVE, AND IT WOULD NOT TAKE A LOT TO COMPLETELY UPSET THE BALANCE OF PAYMENTS IN NEW YORK CITY BECAUSE ONE PERSON. IF YOU ANTAGONIZE A QUARTER OF THE 1% AND IT ALL IMPLODES.
MARIA: BEFORE THE ELECTION, WE WERE TALKING ABOUT HOW MUCH POWER AND THE MAYOR OF NEW YORK HAS. JEFFRIES ON WALL STREET OUT WITH A REPORT TELLING YOUR CLIENTS A COUPLE OF THE THINGS THAT HE COULD DO. ZOHRAN MAMDANI PROPOSAL WITHIN MAYORAL AUTHORITY INCLUDE BROAD LATITUDE TO ADVANCE POLICIES AFFECTING PROPERTY OWNERS AND RENEWABLE ENERGY AND IMMIGRATION. INTENSIFYING ENFORCEMENT OF HOUSING CODES, ACCELERATING ELECTRIFICATION AND SENSORY PROTECTIONS RELIES ON THE MAYOR'S ABILITY TO ISSUE EXECUTIVE ORDERS.
>> ZOHRAN MAMDANI POLICIES, IF HE IS ABLE TO IMPLEMENT THEM, NO SOCIALIST POLICIES FAIL. NO MATTER IF HE IMPLEMENT SOME ARE NOT. I WANT TO POINT OUT THAT WE HAVE AN ANTI-AMERICAN, ANTICAPITALIST, ANTI-POLICE CANDIDATE WAS ELECTED TO RUN THE FINANCIAL CAPITAL OF THE WORLD AND THE LARGEST POLICE FORCE IN THE COUNTRY, THE NYPD. ZOHRAN MAMDANI WILL BE RESPONSIBLE FOR 150 MILLION-DOLLAR BUDGET AND 3000 EMPLOYEES AND OVER 30,000 POLICE OFFICERS. I HAD A PIT IN MY STOMACH WHEN I HEARD TIMES SQUARE WRAPPED IN CHEERS, CARS HONKING. I WISH THE BEST FOR NEW YORK.
MARIA: THERE ARE THINGS THAT HE PROPOSED THAT ARE OUTSIDE OF HIS AUTHORITY. ONE OF THOSE IS FOOD AND RIGHT. HE'S GOING TO FREEZE THE RENT TO SPIT AND TO STABILIZE TENANT WITH THE RIGHT GUIDELINES WITH THE MAYOR'S INFLUENCE IS INDIRECT. WE DON'T KNOW IF HE IS ACTUALLY GOING TO BE ABLE TO DO THAT. ELIMINATING BUS FARE, IT REQUIRES THE MTA TO ACTUALLY MAKE THE RULING AND STATE APPROVAL. KATHY HOCHUL MAY GO THAT IS FINE, BUT HE CANNOT DO THAT UNILATERALLY. RAISING CORPORATE OR MILLIONAIRE TAXES, REVISING PROPERTY TAX STRUCTURES AND IMPLEMENTING CHILDCARE ALL REQUIRE ALBANY'S APPROVAL. KATHY HOCHUL BACKED HIM, SO SHE MAY BACK ALL OF THIS, BUT HE CANNOT DO THAT UNILATERALLY.
>> HE CANNOT DO UNILATERALLY. THINK ABOUT SOME OF THE PROPOSES. LET'S TALK ABOUT RENT. EVERYONE COMPLAINS IT'S SO EXPENSIVE, WHETHER YOU BUY OR RENT. LET'S SAY HE FREEZES RENTS. IF YOU FREEZE RENT, THEN APARTMENT OWNERS ARE NOT ABLE TO EFFECTIVELY RAISE THE RENT TO COVER THE COST OF MAINTENANCE. WHAT IF THE ROOF LEAKS OR PROBLEM WITH THE PLUMBING, OR WHAT IF THERE ARE RATS COMING IN AND YOU NEED THE FOUNDATION SEALED? WHAT YOU GOING TO SEE THERE WILL BE VIRTUALLY NO REINVESTMENT OR NO CAPITAL EXPENDITURES TO MAINTAIN THE QUALITY OF PROPERTY. ON THE ONE HAND, IT'S WONDERFUL MY RENT IS NOT GOING UP, IT MAYBE IS GOING DOWN ACTUALLY IS NOT BECAUSE OF THE QUALITY OF BUILDING IS GOING TO A ROAD OVER TIME. THERE ARE CONSEQUENCES I DON'T THINK PEOPLE HAVE THOUGHT THROUGH. THEY HEAR THE HEADLINE, RENT IS GOING DOWN, GREAT. WHO'S PAYING FOR, FREEZING RENT IS OUTSIDE OF HIS MAYORS AUTHORITY, BUT AGAIN IT KATHY HOCHUL, HE COULD DO IT. THE OTHER THING, IMPLEMENTING CITY-OWNED GROCERY STORES THAT WOULD NEED THE CITY COUNCIL, LEGISLATION FOR THE PROGRAM CREATION AND BUDGET SUPPORT THAT IS NOT IN HIS REALM OF GETTING THIS DONE. THEY GET THE SUPPORT. RAISING THE WAGE TO $30 AN HOUR BY 2030 IS GOVERNED AGAIN BY STATE LAW. WE MADE A LOT OF PROMISES, ALL OF WHICH OUTSIDE OF HIS AUTHORITY.
>> CAN YOU IMAGINE IF MINIMUM WAGE WAS $30? MINIMUM WAGE IS SUPPOSED TO PROVIDE A FLOOR FOR GIG WORKERS OR TEMPORARY JOBS. IF YOU'RE GOING TO A JOB WITH MINIMUM WAGE, IT TENDED TO BE A CAREER, BUT IS TRYING TO MAKE IT A CAREER, $30. THOSE JOBS WILL DISAPPEAR.
>> WILL TALK ABOUT THIS THIS MORNING. WHAT THE NEW GOVERNOR ELECT, AS WELL AS MAYOR ELECT, CAN GET DONE AND WILL.