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Florida GOP congressman beckons New York Stock Exchange to move to Florida

"We have a lot of nice land here in southwest Florida," said Florida GOP Rep. Byron Donalds.

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Wall Street traders mourning stock losses
Wall Street traders mourning stock losses
(Spencer Platt / Getty Images_
Updated: February 17, 2021 - 3:18pm

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Florida GOP Rep. Byron Donalds is urging The New York Stock Exchange to leave Lower Manhattan for Florida.

Donalds argued such a move would benefit the exchange because Florida has no tax on stock trades.

"Oh I do," Donalds said in response to a question on whether the NYSE should leave Wall Street for Florida. "We have a lot of nice land here in southwest Florida we can find a nice place for them right here in the heart of my congressional district." 

The Brooklyn-born congressman made the comments on NTD.com, following a New York proposed a bill earlier this month that  would impose a tax on financial transactions like stocks and bonds, and tax financial service firms such as hedge funds.

Donalds argued that because of Covid-19 people didn't need to stay in New York or Manhattan to work on the exchange.

"You can do that anywhere in the country, frankly in the world," he said. "But I think they should do that right here in Florida."