To save NYC's millionaires a few dollars a day in taxes?
The political calculus is way off. I hope the Governor takes a step back to reevaluate his priorities this year.
Most years since 2009, the state has yanked funds from dedicated transit taxes to fund other parts of its budget. The pattern continues in this year's budget, which includes a $40 million raid that pushes the state's debt obligations onto straphangers. Worse still is that the accompanying financial plan projects a $20 million raid for several years afterward — all for MTA bonds that the state had previously agreed to pay from its general fund. This is the first time advocates can recall a governor planning transit raids years in advance, not as a last-minute budget gap measure. "The repayment of the bonds is a state responsibility," said Gene Russianoff of the Straphangers Campaign. "The bottom line is that the state's not meeting its promise."
Third Way neo-liberalism is out. The lipstick has worn off of the pig.