City Council's tunnel visions for the BQE

 

NY Daily News/MSN

 New York City officials on Monday pitched an $11 billion tunnel to keep cars off a crumbling stretch of the Brooklyn-Queens Expressway.

A consulting firm hired by the City Council last year floated the tunnel idea as an alternative to the city Department of Transportation’s previous plan to fix the dilapidated road, which would have cost $4 billion to repair and to build a temporary highway above the beloved Brooklyn Heights Promenade during construction.

The tunnel would stretch 3 miles from the Gowanus Expressway where it meets the Prospect 

Expressway to the BQE’s south Williamsburg trench near Bedford Ave. It’s modeled after similar projects in other U.S. cities, such as Boston’s 1.5-mile “Big Dig” tunnel that ended up costing the city $22 billion.

The Council’s consultant also recommended another $3.2 billion idea pitched by architecture firm Bjarke Ingels Group last year to build a park atop a new capped six-lane highway adjacent to the promenade.

Council Speaker Corey Johnson called the rebuilding of the highway a “once-in-a-lifetime opportunity,” but declined to endorse either pitch.

If the city goes with the tunnel option, it would cost more than the estimated $7.2 billion price tag for the first two phases of the Second Ave. subway, which hopes to extend the Q line to East Harlem over the next decade.

The tunnel, which the consultant said would take seven to 10 years to construct, would cost about 35% more. The MTA expects the first two phases of the Second Ave. subway will draw an additional 290,000 daily riders, while the Council’s consultant said the proposed tunnel would be used by some 153,000 vehicles a day.

The BQE tunnel idea was met with skepticism by other Council members, who questioned the city’s ability to build large-scale projects.

“We haven’t been able to build anything on this scale since the ’60s,” said Councilman Joseph Borelli (R-S.I.). “I am less concerned about the price tag than I am over whether a future mayor will have the intestinal fortitude to see it through.”

The DOT is in the middle of an environmental review process for all of the proposals to fix the BQE that is expected to drag on for at least another year.

Mayor de Blasio wants 10 billion dollars to save Downtown Manhattan from climate change

NY Daily News

Mayor de Blasio proposed extending the South Street Seaport area by two city blocks into the East River — part of a $10 billion effort to fend off rising sea levels as a result of climate change.

“We had to find something that would work, no matter how expensive or ambitious it was,” de Blasio said Thursday at a press conference downtown.

The plan, part of a resilience study released Thursday, calls for extending the shoreline by a maximum of 500 feet, or two city blocks. The new segment of the shoreline, which would be 20 feet or above current sea levels, would serve as a flood barrier during storms — but it could also be home to buildings, including potential private development, de Blasio acknowledged.

But it will be necessary to keep lower Manhattan from being underwater, he argued -- saying the city’s study had found that by 2100, 20% of the streets in area would experience daily tidal flooding, even in sunny weather.

“This is the existential threat. This is the core issue we all must face as aggressively as humanly possible,” de Blasio said.

 The plan, announced six years after Hurricane Sandy swamped the city, may sound familiar to some New Yorkers — in 2013, Mayor Bloomberg proposed a similar project dubbed “Seaport City.” That plan would have leveraged private development on the new land to pay for the massive expense of building it.

De Blasio said whether the new land would contain private developments depended on whether the federal government would pony up any cash for the plan.

 From the perspective of the City of New York alone, this would be extraordinarily difficult to fund. I think it comes down to simply this: if there’s federal money in play, it probably looks one way, if there’s not federal money in play, we have to get some private money and there has to be some development,” he said.


What happened to the affordable housing plan? What about emergency funding for NYCHA?

The mayor proves yet again where his priorities lie, with the real estate overlords. New development? If all those luxury towers around there are under threat now from accelerating sea level rise, why would you build more "private" development on the new shoreline

If there is a light side to this idiotic proposal, this ten billion dollar defense of luxury real estate from the effects of climate change seems to be inspired not only from de Blasio's obeisance to his biggest donors (obviously still) but from a mentally retarded female character from the classic comedy show Arrested Development.

Amazon paid no taxes and got hundreds of millions of dollars in rebates in the last two years.

Institute on Taxation and Economic Policy

Amazon, the ubiquitous purveyor of two-day delivery of just about everything, nearly doubled its profits to $11.2 billion in 2018 from $5.6 billion the previous year and, once again, didn’t pay a single cent of federal income taxes.
The company’s newest corporate filing reveals that, far from paying the statutory 21 percent income tax rate on its U.S. income in 2018, Amazon reported a federal income tax rebate of $129 million. For those who don’t have a pocket calculator handy, that works out to a tax rate of negative 1 percent. 

The fine print of Amazon’s income tax disclosure shows that this achievement is partly due to various unspecified “tax credits” as well as a tax break for executive stock options.
This isn’t the first year that the cyber-retailing giant has avoided federal taxes. Last year, the company paid no federal corporate income taxes on $5.6 billion in U.S. income.
ITEP has examined the tax-paying habits of corporations for nearly 40 years and has long advocated for closing loopholes and special breaks that allow many profitable corporations to pay zero or single-digit effective tax rates. When Congress in 2017 enacted the Tax Cuts and Jobs Act and substantially cut the statutory corporate tax rate from 35 percent to 21 percent, proponents claimed the rate cut would incentivize better corporate citizenship. However, the tax law failed to broaden the tax base or close a slew of tax loopholes that allow profitable companies to routinely avoid paying federal and state income taxes on almost half of their profits.

 In fact, the Trump Administration and its congressional allies included lavish new giveaways such as immediate expensing of capital investments. Multiple analysts scored the tax law as a huge revenue loser, giving away far more to big corporations in rate cuts than it takes in loophole-closers.

 Amazon is no stranger to tax controversies. Last year the company, in a staggering act of hubris, engaged in a year-long aggressive push for huge new relocation subsidies for its “HQ2” headquarters. A year later, Amazon appears to have won its two-front battle against fair taxes by continuing to altogether avoid federal taxes and obtaining lucrative packages of local tax breaks for not one but two new HQ2 locations, in New York and Virginia as well breaks for an operations center in Nashville, Tenn.

And #PoorBezos has the unmitigated gall to demand subsidies from this state and city and to go after Trump with the national/his personal newspaper that he owns. What a insecure and sad greedy little miser.