Tag Archives: Metropolitan Transportation Authority

De Blasio wants to tax the rich to pay for subway repairs

de blasio

Class warfare: Demorats go-to solution to every problem.

NYC’s subway system is in bad shape. According to the LA Times, delays have doubled over the last five years and accidents are on the rise. The governor authorized a billion dollars for improvements, of which few believe will have any favorable impact on the system. Guess that means they’ll need more taxpayer money, from only the wealthy of course.

From NY Post: Mayor de Blasio wants a tax hike​ on New Yorkers​ to pay for repairs to the city’s subway system, according to a proposal released Sunday.

The tax plan, which would target the ​wealthy ​to raise nearly $800 million annually, would bankroll improvements to the subway signal system, track repairs and reduced fares for poor New Yorkers.

De Blasio press spokesman Eric Phillips released details of the proposal to fund ​the “long-term fix​.​”

​The tax would require approval in Albany, which might be tough to lockdown given Republican control of the state Senate and the ongoing feud between Hizzoner and Gov. Cuomo over how to fund repairs.

​Under the plan, the city’s tax rate on individuals making more than $500,000 a year and married couples earning above $1 million would jump .5 percent from 3.876 percent to 4.41 percent. ​​ More than $500 million of the revenue generated would go to subway and bus system upgrades, while about $250 million would subsidize half-priced MetroCards for about 800,000 living at or below the federal poverty level.

Officials at the Metropolitan Transportation Authority, which runs the city’s subway and bus systems and is overseen by the state, did not learn about de Blasio’s proposal directly from City Hall, but through the ​New York Times’s website, ​which first published the tax-the-rich plan, ​according to an MTA spokesperson.

MTA Chairman Joe Lhota framed the proposal as a reversal from de Blasio, who has argued the MTA should use money the city has already allocated to ​the agency. “After saying the MTA doesn’t need money, we’re glad the mayor reversed himself,” Lhota said in​​ a statement.

Lhota then highlighted the MTA’s need for “short-term emergency financing” and pressed de Blasio to immediately match the state’s cash outlay for the system.

“The mayor should partner with us and match the state funding now so we can turn the trains around,” he said. “There’s no question we need a long-term funding stream, but emergency train repairs can’t wait on what the state legislature may or may not do next year.”

De Blasio’s proposal, which comes as he’s fighting for re-election, repeatedly emphasizes the added burden it will mean for the city’s highest earners.

The top 1 percent can afford to do a bit more—and should, because a transit system that works makes New York City’s economy strong and benefits us all,” according to a fact sheet Phillips sent.

“Rather than sending the bill to working families and subway and bus riders already feeling the pressure of rising fares and bad service, we are asking the wealthiest in our city to chip in a little extra to help move our transit system into the 21st century,” de Blasio said in a statement to The Times.

DCG

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