NYC Mayor Wants To Tax The Wealthy To Fund Subway Repairs

NYC Mayor Wants To Tax The Wealthy To Fund Subway Repairs

NYC Mayor Wants To Tax The Wealthy To Fund Subway Repairs

Subway power outages, long delays and even a derailed subway vehicle led New York Gov. Andrew Cuomo to declare a state of emergency for the system back in June. Delays have skyrocketed on the century-old system, and several recent accidents have raised concerns about its safety. At the same time, the authority has been raising fares every two years, with the latest increase taking effect in March, when the cost of a monthly MetroCard rose by $4.50 to $121.

The mayor has failed previously to get state approval to increase taxes on the wealthy, including his 2014 proposal that would have paid for universal all-day pre-kindergarten.

"Revenue will help fix the system for everyone & cut fares for 800k low-income New Yorkers", Phillips posted about the plan. Cuomo instead persuaded the legislature to fund the program statewide out of general revenue.

Kellermann welcomed de Blasio's support for reduced-fare MetroCards for lower-income residents, but said the money can be found from existing city resources. "There is no doubt that we need a long-term dedicated funding stream", he said.

Mr. Cuomo faces a re-election campaign next year and is thought to be considering running for president in 2020.

She is more on board with Cuomo's rumored desire for some sort of congestion pricing fee on vehicular travel to and around Manhattan.

"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. About 800,000 people in New York City who are at or below the federal poverty level could qualify for half-price MetroCards, city officials said.

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The proposal would raise the income tax by half a percentage point for married couples making more than $1 million or individuals making more than $500,000.

At the mayor's press conference, speakers stressed that the tax would affect only a handful of taxpayers - an estimated 30,000 to 35,000 - all of them in New York City.

Kathryn Wylde, CEO of the pro-business Partnership for New York City and a Cuomo ally, accused Mayor de Blasio of throwing "the city's high earners under the bus".

De Blasio will still demand that the state pay $8 billion toward the MTA's current capital plan, the paper reported. "It's time to end a system where low-income New Yorkers have to skip meals, beg for swipes or even jump turnstiles in order to get to work or school". As more New Yorkers acknowledge Governor Cuomo's responsibility to the MTA, he reasoned, the governor will feel pressure to appease them.

About 32,000 of the city's wealthiest residents would see their taxes rise, de Blasio said. Riders must apply in person at an enrollment center and provide documentation to verify their income.

John Raskin, executive director of the transit-advocacy group the Riders Alliance, told Fox Business in a statement he supports the mayor's plan.

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