Mayor Proposes Plan To Tax City's Wealthiest To Fund MTA Repairs

Mayor Proposes Plan To Tax City's Wealthiest To Fund MTA Repairs

"It's time for some basic fairness, and that's what we aim to achieve". "Too many people who have paid in haven't gotten their fair share back".

The idea is sure to provoke more disagreement between the mayor and Governor Andrew Cuomo, who have been feuding since de Blasio took office in 2014. "If it wasn't for subways and buses that function they couldn't do as well", he added. In 2018 alone, this would bring in $700 million, rising to $820 million by 2020 and would affect an estimated 30,000 to 35,000 New Yorkers, less than one per cent of the city's population.

"That individual will pay about $2,700 more in their annual taxes", de Blasio said. "It means about seven dollars per day". Provisions are also in place to prevent Staten Island drivers from paying more than they do now.

"We're not begrudging anyone's success".

Kathryn Wylde, president of the Partnership for New York City, a group of corporate chief executives, said the mayor's plan would "throw the city's high earners under the bus".

Transit advocates had less sympathy for the millionaire class.

The Partnership for New York City, the city's leading business association, and the nonpartisan Citizens Budget Commission also opposed the tax plan.

"People do not want to see this madness continue", De Blasio said at a news conference where he was flanked by fellow Democrats, union leaders and activists.

Speaking at Brooklyn Borough Hall, the mayor said his proposal - which would require approval of the state Legislature and Gov. Cuomo - would reinvigorate the mass transit system at minimal cost to those most able to afford it. "It's time for a millionaires' tax".

On Sunday, the authority's chairman, Joseph J. Lhota, responded to the mayor's proposal by saying that the agency needed emergency financing immediately. "But there is also no doubt that we can not wait to address the current crisis".

The mayor's announcement comes shortly after MTA Chairman Joseph Lhota unveiled his $836 million emergency plan to fix the system last month.

NY governor Andrew Cuomo also suggested reviving the idea of congestion pricing on traffic, an idea which former mayor Michael Bloomberg tried but failed to implement.

On Monday, de Blasio will announce what the New York Times refers to as a "millionaires tax" to help fix the deteriorating system, which is plagued by delays, mechanical issues, and even derailments, the AP reports.

"I don't think there's a silver bullet like the mayor is suggesting, I think it could be part of it", Titone said.

"I would argue that the in a full-blown crisis and that would justify our return to Albany to enact this measure in an emergency session", Mr. Gianaris said.



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