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Story summary
- The tax plan by New York City Mayor Zohran Mamdani aims to close a $5.4 billion budget deficit but faces artificial intelligence (AI)-driven challenges.
- Investors worry AI could automate jobs in finance and law, eroding the tax base and raising debt risk.
- Remote work and relocation to lower-tax states further stretch revenue expectations.
- Experts warn AI may worsen the fiscal crisis, challenging the sustainability of future tax increases.
