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East River tolls, payroll tax in NY transit plan
NEW YORK — Drivers in New York City would pay to cross the East River and companies would be taxed on their payrolls under a proposal to stanch financial bleeding at the Metropolitan Transportation Authority.
Transit riders would be spared a potential 23 percent fare increase. A state commission's proposal, released Thursday, calls for boosting MTA fare revenue by 8 percent instead.
The transit agency needs to close an estimated $1.4 billion deficit in its operating budget next year and a $3 billion deficit by 2012. The agency is legally required to balance its budget.
Under the state commission's proposal, companies in a 12-county area would pay $330 in tax for every $100,000 they pay workers.
JENNIFER PELTZ | December 4, 2008 01:47 PM EST |