Thursday, November 1, 2018
Lots of new taxes being considered to save MTA
A state panel is advising Governor Andrew Cuomo to consider a bundle of new taxes after revelations that the price for fixing the beleaguered Metropolitan Transportation Authority has doubled.
As it turns out, officials say a controversial plan for congestion pricing won’t raise enough money to cover the difference.
The task of finding solutions for raising the dough has been left to a city-state sustainability task force. Sources tell CBS2 that in addition to congestion pricing, the task force is exploring other options including:
- raising the payroll tax
- increasing the real estate transfer tax on sales of property over $5 million
- ending the sales tax exemption on clothing purchases under $110
Mitchell Moss, head of the Rudin Center for Transportation at New York University, has other suggestions including raising the gas tax.
“We should be using the gas tax and other broad-based revenues,” Moss said. “We might even want to consider getting revenue from cannabis to be earmarked for riders.”
A marijuana tax is a real possibility if pot is legalized in New York, sources say. Other revenue streams could come from new taxes on casinos and sports betting.