NY Transit Advocate Says Billions in Tax Hikes Would Fix MTA
- Citizen committee suggests raising income, capital gains taxes
- MTA officials set to testify before Albany lawmakers Thursday
The initiative is expected to raise $15 billion for transit infrastructure projects within the agency’s 2020—2024 capital plan.
Photographer: Jeenah Moon/BloombergWhile New York’s Metropolitan Transportation Authority needs state lawmakers to help fix a $35.4 billion hole in its multi-year capital spending plan, a rider advocacy group that advises the transit agency has some ideas on how to fill the gap, including raising taxes.
Boosting income taxes on the highest earners, raising the state’s capital gains levy, charging for New York City street parking, imposing a 0.25-cent fee for online packages, or establishing recurring state budget allocations to the MTA every year — are several of the proposals the Permanent Citizens Advisory Committee to the MTA has offered up as ways to raise money for New York City’s subway, bus and commuter rail lines.