De Blasio’s Millionaire’s Tax Faces Opposition

Mayor Bill de Blasio’s plan to raise taxes on the wealthy to pay for subway repairs is getting pushback from the MTA and the State Senate.

The mayor introduced his plan on Monday, which would raise taxes by half a percent on individuals making $500,000 and couples earning $1 million per year.  The money would pay for needed subway repairs and half-price MetroCards for low-income New Yorkers.

“What he’s proposed today will not come in until next year.  I can’t wait ‘til next year,” MTA Chairman Joe Lhota said.

Lhota said the subway system is facing challenges today and it needs immediate resources and solutions.

The mayor’s plan also needs the support of lawmakers in Albany.  State Sneate Majority Leader John Flanagan is against the proposal, saying he opposes the tax increase.

“While I support increased city investment in the subway, the city already has $4.2 billion surplus and therefor has the ability to do so with existing resources.  Mayor de Blasio doesn’t need to reach into the wallets of city residents to make that happen,” Flanagan said in a statement.

Photo Credit:  Getty Images

Sponsored Content

Sponsored Content