REUTERS/Adam Gray
(New York, New York) – 77’s John Catsimatidis is pushing back hard against New York Governor Kathy Hochul over her efforts to lure wealthy residents back to the state.
Speaking in response to Hochul’s recent messaging aimed at reversing the outflow of high-income earners, Catsimatidis dismissed the idea outright, saying, “This is a joke, nobody who has gone down to Florida is coming back.”
Hochul has been vocal about the need to retain and attract affluent taxpayers, arguing that their return is critical to stabilizing New York’s economy and supporting state revenue. The issue has become increasingly urgent as more residents relocate to lower-tax states like Florida.
Catsimatidis’ comments reflect a growing skepticism among some business leaders who believe New York’s high taxes, cost of living, and regulatory environment continue to drive people away—despite efforts by state officials to reverse the trend.
The exchange underscores a broader debate over New York’s economic future, with leaders divided on whether policy changes are needed to make the state more competitive, or if current strategies can successfully bring residents back.
