NYC NOW - Morning Headlines: NYC Mayoral Candidates Clash Over Rent Freeze, Wall Street Profits Surge, and Hochul Vetoes EMS Staffing Bill

Episode Date: October 23, 2025

New York City’s mayoral candidates sparred over whether freezing rents for stabilized apartments is realistic policy during last night’s debate, with Andrew Cuomo arguing it would hurt landlords�� ability to cover costs. Meanwhile, a new report from the state comptroller shows Wall Street profits jumped to $30 billion in the first half of the year, putting the industry on track for one of its strongest years ever. And Governor Kathy Hochul has vetoed a bill that would have required all 911 ambulances in New York City to have at least two certified responders, drawing criticism from the union representing EMTs and paramedics.

Welcome to NYC Now, your source for local news in and around New York City from WMYC. It's Thursday, October 23rd. Here's the morning headlines from David First. New York City mayoral candidates went head to head on whether freezing stabilized rents in the city was a realistic policy in last night's debate. Andrew Cuomo said you can't both freeze rent and cover landlords' cost. We did freeze the rent with DeBosio. lost units because the landlords took them off the market because you weren't covering their costs.

Zaron Mumdani said he would do everything in his power to lower rents, including using the mayor's control of appointees to the rent guidelines board. If you want a candidate for mayor who tells you everything that he cannot do, then Andrew Cuomo should be your choice. Republican nominee Curtis Slewa said he would make sure to fill up empty NYCHA apartments and support a vacancy tax on big landlord. The election day is November 4th. Early voting begins Saturday. It's shaping up to be a good year for Wall Street.

WNYC's John Campbell reports profits are up. The firms that make up the securities industry in New York City pulled in 30 billion dollars in profit in the first half of the year. That's according to a new report from state controller Thomas DiNapoli. It puts the firms on pace to top last year's profits of nearly $50 billion, which was the fourth most profitable year on record. That's good news for the New York State and City governments. Wall Street makes up a big chunk of their tax base, accounting for about 20% of the state's total tax collections last fiscal year.

Danapolis says there are potential challenges ahead, however, including the state of the broader national economy. As EMS staffing shortages continue, New Yorkers shouldn't expect to see more ambulance workers anytime soon. Governor Kathy Hokel has vetoed a bill that would have required all 911 ambulances in cities like New York to be staffed with at least two certified responders. Oran Barzale is president of the union representing EMTs and paramedics. He says the decision puts workers at risk. How do you put money before the safety of my men and women? It was devastating to all, again, It was devastating to all of us.

FDNY officials say the bill would have forced them to pull EMTs off ambulances to staff supervisor vehicles, reducing coverage and straining resources. 50 degrees breezy today, sunny skies, a high near 60 this afternoon. Thanks for listening. This is NYC now from WMYC. Check us out for updates every weekday, three times a date, for the latest news headlines and occasional deep dives. And subscribe wherever you. where you get your podcasts. We'll be back this evening.