Congestion pricing is a bad idea, raising taxes is even worse
NY Post
Gov. Hochul says she’s going to make the MTA good for its loss of congestion-pricing-toll income, but Albany needs to find the money within the record-breaking budget it already has.
State leaders always seems to find a spare billion or two for boondoggles in Buffalo; rather than add a dime in new taxes or fees “to fund the MTA,” they can go pound sand.
Increase the MTA-region “mobility tax”?
That’s basically an added tax on employment, and thus a downer for the metro-area economy — exactly what Hochul realized the tolls would mean.
Replace the income from the state’s reserve funds?
Maybe, but the MTA’s plan was to use the expected $1 billion-a-year funding stream as leverage to borrow billions upfront, and so fund its capital spending — including vital maintenance. Unless it’s a guaranteed funding stream, it can’t fund borrowing.
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