HQ2 backlash: Who's the real loser of Amazon's New York withdrawal?
“Bulls & Bears” panel discuss how a new billboard slammed Rep. Alexandria Ocasio-Cortez (D-N.Y.) for her role in pushing Amazon out of New York City.
Amazon faced public and vocal backlash from local New York politicians after announcing plans to build its second headquarters in Long Island City, with freshman Rep. Alexandria Ocasio-Cortez, D-N.Y., leading the charge.
These politicians eventually won their battle after Amazon cancelled its plans to build in New York City.
But Ocasio-Cortez is now on the receiving end of the backlash, coming in the form of a billboard on 42nd Street near 8th Avenue.
Forbes Media Chairman Steve Forbes told FOXBusiness said the young Representative didn't understand the economics of what she was fighting against.
"In terms of these tax credits, they weren't giving money out,” he said on “Bulls & Bears" Wednesday. “Very little money is being given out. They're just not gonna collect taxes they'd otherwise collect.”
Former Obama chief economist Austan Goolsbee fired back in defense of Amazon's nay-sayers saying, "Every state and every city is definitely of two minds on this, because we're in a race to the bottom where we're going to give away billions of dollars to companies that already have billions of dollars trying to get them to bring jobs."
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While Amazon has decided to walk away from New York, 2020 Democratic presidential candidate Senator Cory Booker of New Jersey says, if Amazon wants to take a trip across the river, Newark is ready to welcome them with open arms.