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State Can't Tax Enough Blood From Stone For MTA
By
John Del Signore
Published Dec 6, 2010
Modified Dec 6, 2010
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By
John Del Signore
Published Dec 6, 2010
Modified Dec 6, 2010
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The state legislature's attempt to bail out the MTA last year has fallen $400 million short, because tax revenues were considerably less than anticipated. You'll recall that back in May 2009, with Doomsday looming, the legislature passed a $2.26 billion plan to bail out the MTA by way of a big payroll tax and numerous other surcharges, including a 50-cent taxi fee; increased costs for a driver's license; and car-rental, garage-parking and license fees. But revenues have fallen short of projections, and now the MTA faces another budget gap, again. Please be patient.
The Post reports that the payroll tax came in at $321 million under expectations, which were overstated. According to MTA documents obtained by the tabloid, the economy, stupid, was weaker than expected, "which in turn resulted in lower-than-expected tax receipts." Overall, the payroll tax will bring in about $1.34 billion instead of the $1.66 that was projected. Revenue from the DMV tax, the cab tax, and the car-rental tax are also under-performing! As one MTA board member put it, "The riders have done their part with service cuts and fare hikes, but motorists aren't doing their part." Come on all you selfish motorists, do your part and pay more taxes!
Tagged
MTA
mta budget
nyc transit
revenue
subway
taxes
John Del Signore
Originally from the Albany area, John Del Signore has called NYC home since 1995. In addition to his thousands of meticulously-crafted bespoke blog posts for Gothamist, his writing has also been published in The Awl, Deadspin, The Nervous Breakdown, and performed at The Brick Theater in Brooklyn.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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