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We want 2 things in 2021: to house the homeless/end evictions, and to raise $$ revenue. The existence of vacant, ultra-luxury apartments and simultaneously 92,000 homeless New Yorkers is a massive policy failure BUT a pied-a-terre tax accomplishes neither goal. 2/5
On revenue: I hate those luxury apartments. Don't want them to exist. A pied-a-terre tax done *right* won't raise any money b/c we will tax the apartments out of existence. But we really need money. If we only have a few chances to raise $$, let's pursue taxes that do that. 3/5
On housing policy: If we want to house the homeless or end evictions: there are much stronger policy options than a tax on handful of apartments in Manhattan. We should do those instead. Let's invest billions in the NYS capital budget to build and acquire social housing! 4/5
On narrative: Lot of ppl like pied-a-terre b/c of narrative & it picks a fight with the most powerful industry in NYS. Fighting w RE is a professional love of mine, and they aren't even fighting this tax. If u want a good fight with the industry, join us to #CancelRent. 5!
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