Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Bloomberg: Don't Reduce Sales Tax
By
Jen Chung
Published Dec 12, 2007
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Dec 12, 2007
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Mayor Bloomberg, our very own billionaire mayor, is asking state lawmakers to keep the sales tax at 8.375%. Apparently the sales tax, per "Rules dating back to the city's fiscal crisis of the 1970s" (thanks for the history lesson, NY Sun!), would have dropped 1 percentage point to 7.375% on July 1, 2008, but Bloomberg wants to keep it at its current level.
That extra 1 percent tax means about $1 billion in revenue for the city - or $1 billion in what consumers spend. City Council Member James Oddo, leader of the Republican minority, thinks the tax should drop, referring to the fact that the city has to learn to live without extra revenue, "There are some of us who believe we still spend too much in this town and if we can't find the means to control ourselves, then maybe we need an extraordinary event like this." But others doubt that the sales tax will drop, because the city projects budget deficits in the future.
As it goes now, 4% of the sales tax is for NY State coffers, while 4% is for the city; the remaining .375% is for the "Metropolitan Commuter Transportation District," which is, we think, supposed to be for transportation issues but ends up in a general fund (therefore, the MTA doesn't get a real crack at it). Here's the city's information about sales and use tax.
Tagged
As
bloomberg
city
City Council
citysalestax
Council Member
crack
dating
District
history
james oddo
jamesoddo
mayor
mayor bloomberg
mayorbloomberg
money
MTA
news
ny state
ny sun
republican
salestax
the city
the future
transportation
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Mamdani extends ban on permits for new street fairs due to NYPD overtime
Critics say the moratorium harms businesses in neighborhoods without a tradition of street fairs.
By
Carol Chen
Published Oct 23, 2026 at 4:24 p.m. ET
Inside the Midtown Bus Terminal rebuild: Decks over Lincoln Tunnel approach, a new park
The new deck will be used to store buses and supplies while crews tear down and rebuild the Midtown bus terminal. Once the project wraps, the space will be converted into a new park.
By
Ramsey Khalifeh
News
Inside the Midtown Bus Terminal rebuild: Decks over Lincoln Tunnel approach, a new park
The new deck will be used to store buses and supplies while crews tear down and rebuild the Midtown bus terminal. Once the project wraps, the space will be converted into a new park.
By
Ramsey Khalifeh
Black couple seeking Queens apartment sues over racist text from broker
By
Brittany Kriegstein
NJ early voting begins Saturday. Here's everything you need to know.
By
Mike Hayes
Countdown clocks are coming to an NYC bus stop near you
By
Stephen Nessen
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .