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New York City is severing its contracts with President Donald Trump's eponymous company, a move that could cost the outgoing president millions of dollars in response to his role in inciting the Capitol insurrection.

The city will be notifying the Trump Organization that it will cancel its agreements to operate the Central Park Carousel, Wollman and Lasker skating rinks, and Ferry Point Golf Course in the Bronx.

 
New York City Mayor Bill de Blasio said the city is acting under a clause that allows termination of contracts in the event of criminal activity.