Rep. Mike Lawler, R-N.Y., joins ‘Varney & Co.’ to consider whether newly elected New York Mayor Zohran Mamdani will push through his agenda, the Trump administration’s rollout of rural health care funds as Obamacare subsidies expire, and the 2026 midterms.
Trump’s Crypto Czar David Sacks predicts Miami will dethrone New York City as the nation’s financial capital, following the swearing-in of socialist Zohran Mamdani as the city’s 111th mayor.
Sacks, a venture capitalist who was appointed as Trump’s influential advisor on artificial intelligence and cryptocurrency, said in a post on
Miami Mayor Francis X. Suarez replied to Sacks on
Sacks also argued that progressive policies in San Francisco would push talent and investment to Austin, Texas, making it the new tech capital. The California city has recently put forward some of the most aggressive progressive policies in the country. Earlier this month, the city’s Democratic Mayor Daniel Lurie signed an ordinance establishing a “Reparations Fund” that could eventually award eligible Black residents up to $5 million for alleged historical discrimination and displacement.
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The measure, passed by the Board of Supervisors and signed by Lurie, creates a legal framework for the fund but does not allocate city money or guarantee payments.
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New York City mayoral candidate Zohran Mamdani speaks during the United Federation of Teachers Mayors Forum in New York on May 17, 2025. (Michael Nagle/Bloomberg/Getty Images)
Sacks announced in a separate post on X this week that Craft Ventures has opened an office in Austin. It provoked a response from Tesla’s Elon Musk, who replied: “Welcome to Texas! No one will fight harder for the independent and free spirit of Texas than people who know it’s like it’s being taken away.”
On New Year’s Day, Mamdani, a self-described democratic socialist, was officially sworn in as mayor by New York Attorney General Letitia James in a midnight ceremony. During his inauguration ceremony, Mamdani pledged to “lead millions of New Yorkers into a new era of opportunity,” following his campaign aimed at making New York City more affordable.
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In November, Mamdani decisively defeated former New York Governor Andrew Cuomo and Republican Curtis Sliwa, capping a meteoric rise in his political career. However, his progressive agenda faced significant opposition from business leaders who viewed his policies as a direct threat to capitalism.
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Mamdani’s platform focused on a range of issues popular with socialists in the Democratic Party, including raising the minimum wage, raising taxes on corporations and wealthy Americans, tightening regulations on delivery apps, investing in affordable housing and creating city-owned supermarkets.
