According to the South China Morning Post, New York City Council Member Zohran Mamdani is pushing for tax increases on high-income residents and businesses, with a surcharge on high-end second homes having taken effect on July 1. However, proposals to raise income and corporate taxes were rejected by the New York State Governor this year, and allies plan to push again in 2027. The report cited analysts as saying that Hong Kong's tax and wealth management policies might attract some wealthy families, but the impact of taxation itself on relocation decisions remains uncertain. Families also consider factors such as legal and regulatory predictability, cost of living, and time zones.