Trump Signs Law to Launch Dollar 2.0

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Trump Clash Looms Over Zohran Mamdani's NYC Agenda

Nabaparna Bhattacharya
November 08, 2025

New York City Mayor-elect Zohran Mamdani (D) opened his victory night by challenging President Donald Trump.

He vowed to defend the city’s agenda even as Washington pushes back.

Showdown Follows Election Night Barbs.

In his speech, Mamdani addressed Trump directly: “So Donald Trump, since I know you’re watching, I have four words for you: turn the volume up,” BBC reports.

Also Read: Trump Barred From Deploying Oregon National Guard To Portland, Judge Cites State Sovereignty

Trump fired back on Truth Social, “…AND SO IT BEGINS!”

Why It Matters For City Hall.

Trump previously warned he would limit federal support if New Yorkers elected Mamdani. He endorsed former governor Andrew Cuomo, who ran as an independent.

After Mamdani’s win, Trump predicted residents would leave the city, BBC adds.

Federal Leverage Could Bite

The administration has curtailed aid since the October 1 shutdown, freezing $18 billion for big projects. New York relied on about $8.5 billion last year, roughly 7% of its budget.

Those dollars touch housing, education, child services, and disaster response.

City Obligations Squeeze Options

Some services are required by law, including shelter funding. Without federal support, the city and state must fill gaps, said Sarah Parker of the Independent Budget Office, BBC adds.

That pressure could force tradeoffs across programs.

Courts could block attempts to withhold congressionally approved funds, noted Justin de Benedictis-Kessner of Harvard. “But it does slow down the process of getting those funds to the people who need them,” he said, BBC adds.

Mamdani’s Revenue Plan Faces Albany

He proposes raising $10 billion by taxing the wealthiest individuals and corporations. The move needs approval from Governor Kathy Hochul, who has shown caution while facing a tough campaign.

Trump ally Rep. Elise Stefanik (R-NY) is seeking the Republican nomination for governor.

National Guard And Policing Pressure

Trump has deployed troops to several Democratic-led cities before. He has not sent them to New York yet. But he “already has the template,” said Julian Zelizer of Princeton. Mamdani signaled he would contest any deployment in court.

New York’s sanctuary policies limit cooperation with federal immigration authorities.

ICE has increased arrests at city immigration courts. Mamdani pledged the city would remain “a city of immigrants,” and promised resistance if enforcement escalates, BBC reports.

‘Trump-Proofing’ Strategy Emerges

The mayor-elect plans to hire 200 more lawyers to challenge what he calls “Presidential excess.” Bob Shapiro of Columbia said he may also seek private-sector allies to head off troop deployments.

He could choose targeted clashes that build support for priority programs.

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