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    The minimum wage is now the lowest it’s been in 70 years—making the federal wage floor ‘officially a poverty wage,’ report finds | Fortune

    The minimum wage is now the lowest it’s been in 70 years—making the federal wage floor ‘officially a poverty wage,’ report finds | Fortune

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    Markets brace for return to all-out war in Iran amid rising U.S. death toll, while former NATO commander warns Suez Canal could be next | Fortune

    Markets brace for return to all-out war in Iran amid rising U.S. death toll, while former NATO commander warns Suez Canal could be next | Fortune

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Elise Stefanik, close ally of Trump, announces run for governor of New York | Fortune

by Admin
November 11, 2025
in Business
Elise Stefanik, close ally of Trump, announces run for governor of New York | Fortune

U.S. Rep. Elise Stefanik, a close Republican ally ofPresident Donald Trump, announced Friday that she’s running for governor of New York, a place she depicted in a campaign launch video as being “in ashes” because of lawlessness and a high cost of living.

In her video, a narrator declares “The Empire State has fallen” as it paints a grim picture of urban, liberal leadership and life in New York City, though the message appeared to be aimed at audiences in other, more conservative parts of the state.

Her candidacy sets up a potential battle with Gov. Kathy Hochul, a centrist Democrat, though both candidates would have to first clear the field of any intraparty rivals before next November’s election.

Stefanik, 41, has teased a run for months, often castigating Hochul, 67, as the “worst governor in America.” She’s also assailed Hochul for endorsing the ascendent, democratic socialistZohran Mamdani, now the mayor-elect of New York City.

In a written statement, Stefanik said she is running to make “New York affordable and safe for families all across our great state.”

“Our campaign will unify Republicans, Democrats, and Independents to Fire Kathy Hochul once and for all to Save New York,” she said.

Hochul’s campaign released its own attack ad Friday against the Republican, dubbing her “Sellout Stefanik,” and blamed her for enablingTrump’s tariffsand federal funding cuts to education andhealth care.

“Apparently, screwing over New Yorkers in Congress wasn’t enough — now she’s trying to bring Trump’s chaos and skyrocketing costs to our state,” said Hochul campaign spokesperson Sarafina Chitika.

Representing a conservative congressional district in northern New York, Stefanik had once been a pragmatic and moderate Republican who wouldavoid uttering Trump’s name, simply calling him “my party’s presidential nominee.”

But in recent years she has reshaped herself into a brash disciple and ardent defender of Trump’s MAGA movement, rising through the ranks of the Republican Party’s congressional hierarchyas it molded to Trump’s political style.

Last year, Stefanik was tapped to become thepresident’s ambassadorto the United Nations, though her nomination was laterpulledover concerns about her party’s tight margins in the House. She then began toangle toward a runfor governor, and very quickly got a public nod of support from Trump.

Her announcement video, which was titled “From the Ashes,” casts New York as a dangerous place plagued by “migrant crime” and economic crisis, placing the blame on “Kathy Hochul’s failed policies,” as urgent, ominous music plays in the background.

New York City police officials have long touted drops in crime and this week said the city is in its eighth consecutive quarter of major crime decline.

The Republican primary field remains unclear ahead of the 2026 race.

On Long Island, Republican Nassau County Executive Bruce Blakeman has said he’s weighing a run for governor. In a statement Friday, he said he has “tremendous respect” for Stefanik but that the GOP needs to nominate a candidate who has “broad based appeal with independents and common sense Democrats.”

“The party must nominate the candidate with the best chance to defeat Kathy Hochul and I have been urged by business, community and political leaders across the state to make the run and I am seriously considering it,” said Blakeman, who handily won reelection to another four-year term on Tuesday.

U.S. Rep. Mike Lawler had been contemplating a run but instead decided toseek reelectionin his battleground House district in the Hudson Valley.

Hochul faces a contested primary, with her own lieutenant governor, Antonio Delgado,running against her.

Democrats have a major voter registration edge in New York. The state’s last Republican governor was former Gov. George Pataki, who left office about two decades ago.

Still, Republican Lee Zeldin, a former Long Island congressman and current head of the Environmental Protection Agency, made a seriousrun for the office in 2022, coming within striking distance of upsetting Hochul. ___

AP writer Philip Marcelo contributed to this report.

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