Rep. Zach Nunn, R-IOWA, talk updates around the ‘big, beautiful bill’, cooling conflict with Iran and the Mayoral Race in New York City.
Economists and managers sound alarms about the mayor of New York City ZOHRAN MAMDANIThe plan to roll out the city shops in the city that he says they will lower food costs.
Bourne called Mamdani’s supermarkets run through the city “The highlight of political recklessness” by not recognizing that grocers are active in competing arenas and on profit margins for razor.
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“If we just do the simple mathematics here, you can’t sell these products at lower prices and still make money,” says EJ Antoni, chief economist at the Heritage Foundation.
Mamdani, the Underdog winner of Tuesday’s Democratic Mayoral Primary, has placed affordability at the forefront of his campaign for the largest city in America.
The 33-year-old says that the public supermarkets will be exempt from paying rent or real estate tax, a movement aimed at reducing overhead costs. Other efforts to pass on savings to shoppers include buying at wholesale prices, partnerships with local farms on product sourcing and centralizing warehouses and supply chain distribution.
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The socialist Upstart says that it will cost a total of $ 60 million to launch a supermarket in each of the five districts of New York City. Mamdani has said earlier that he will divert part of the $ 140 million in private tax benefits about the store to finance the pilot program.
Mayoral candidate in New York, says Rep. Zohran Mamdani (D-NY), is planning to open supermarkets in the city in an attempt to lower food prices. (Getty/Istock)
“If the government is going to make it impossible for the private market to compete, the private market will stop competing. If you make it unprofitable for a grocer to do business in Manhattan, then people like John Catsimatidis will pull the plug,” Antoni said, referring to the billionaire -supermarket magnate.
“If the city of New York starts socialist, I will certainly close or sell or move the locations of the Gristedes or franchise,” he said. Catsimatidis, a controversial political donor in conservative circles, has more than 15 choirs and almost a dozen d’Agostino supermarkets in Manhattan.
“It is going to harm New York,” said Catsimatidis about Mamdani’s economic agenda if he won the November General Elections. He added that he is considering moving his business offices to New Jersey if that happens.
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What is more, Wall Street managers have emerged as some of the loudest critics of the Economic Agenda of Mamdani, who also includes free buses and rental buses for residents in rental units.
Billionaire Hedgefonds manager Bill Ackman promised to finance an alternative candidate to Mamdani, if someone came forward. He also warned that Mamdani’s financial plan would “destroy jobs and cause companies and rich taxpayers” to leave New York.
“Socialism has no place in the economic capital of our country”, the head of Pershing Square wrote in a message about X.
Bill Ackman, Chief Executive Officer and Portfolio Manager at Pershing Square Capital Management, speaks during the Salt Conference in Las Vegas, Nevada, US 18 May 2017.
“We have two choices, namely to support Mamdani and try to get to his good side, or try to see if we can revive Eric,” Jeff Gural, chairman of GFP Real Estate, told Bloomberg, referring to the current mayor of New York City.
Gural, who donated Andrew Cuomo‘s Pac, added that he would “certainly” prefer Adams above Mamdani.
Dan Loeb, the founder of the Hedgefonds of Third Point, wrote after Mamdani’s victory over X that it was “officially hot commie summer”. Loeb has previously donated to Super PACs to support Adams and Cuomo.
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“Before it is over, many of the younger people will realize that he will do us financially bankrupt, and they will lose their jobs, and I think he will also lose them,” Kudlow added, who served during the first year of President Donald Trump as an economic adviser to the White House.
Mayoral candidate in New York, State Rep. Zohran Mamdani (D-NY) speaks to supporters during an election night and collects AON on 24 June 2025. (Michael M. Santiago / Getty Images / Getty images)
The three-time assembly member says that the supermarkets run by the city will not only tackle the rising food prices, but also to food deserts.
Mamdani, whose district includes the Queensbridge houses, the largest social housing project in North America, says that residents there have been called for cheap supermarket options.
“What I hear from so many of my voters is there:” Why are there five or six fast food restaurants in a radius of five blocks, but I can’t find anywhere where I can really afford to buy groceries? “He said in an interview with Bon Appétit.
“What this network of municipal supermarkets would offer is a guarantee for cheaper groceries and a recognition that food is a non-consumable for New Yorkers,” he added.
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Mayor Brandon Johnson of Chicago proposed to open a supermarket run by the city in 2023 to tackle food insecurity in the Windy City. His administration brought the Buitenplay project, but recently announced a public food market run by the city as an alternative, according to the Chicago Tribune. In the meantime, Mayor of Atlanta Andre Dickens will open the first municipal subsidized supermarket in the city next year.
The Mamdani campaign did not respond to FOX Business’s request for comments.
“But running a supermarket is a famous company with a low margin for which the city could not find too much profit to press,” Glock adds.
