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BlackRock CEO Larry Fink warns NYC may lose investment over poor business climate

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BlackRock CEO Larry Fink has raised concerns about New York City's business environment under its current leadership. He highlighted that the top 1% of taxpayers contribute 47% of the city's total tax revenue, questioning whether residents receive adequate services in return. Fink argued that the existing tax burden is difficult to justify given the quality of public services being delivered. He called on policymakers to prioritize economic growth over tax policy decisions. Fink also cautioned that BlackRock could redirect its US resources to other locations if conditions in the city continue to deteriorate.

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