(DailyAnswer.org) – New York City’s wealthy philanthropists are becoming increasingly wary of investing in the struggling city according to conversations with more than twenty philanthropists, donors and fundraisers. Multiple crises – migration, homelessness, housing and the cost of living – are taking their toll on the city; New York City Mayor Eric Adams stated in September 2023 that the migration crisis will ruin the city.
On top of this, despite stressing his pro-business stance as leader of the city, Adam is struggling to convince the reluctant donors, who are opting to support either less controversial local causes or causes outside of the city, rather than risk investment in the city with limited evidence of their generosity helping an overburdened city grow in the long run. With a history of supporting charter schools, donors are also witnessing the political backlash over planned educational improvements being unrealized. Kayla Mamelak, spokesman for the mayor, stressed that the city needed funding from the federal government that would have a meaningful impact on the city.
Adams has warned that the cost of providing for migrants in the city could reach $12 billion over the next three years, a deficit the city will have to deal with unless adequate support is provided in federal funding. Attempts by philanthropist groups rather than individual donors to support asylum seekers in the city have done little to ease the crisis. Traditional city shelters and schools are both feeling the strain caused by the influx of migrants coming across from the southern border. California Republican and House speaker Kevin McCarthy took the opportunity to attack President Biden on the same grounds, quoting the Democratic New York mayor and agreeing with him that America deserves better. McCarthy blamed the Biden administration for failing to effectively handle the Border Crisis and burdening the city as well as the country as a whole.
Adams has criticized not only Biden’s administration for failing to deal with the issue more effectively, however, but Trump’s as well; a report by the Adams administration also blames insufficient federal immigration reform, the Trump administration’s policies, immigration courts being overwhelmed, challenges to migrants settling into permanent residency and even climate change for contributing to the crisis.
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