Lawmakers Strike Deal to Rescue M.T.A.
from NY Times:
Quote:
May 5, 2009, 7:07 pm
By William Neuman
State leaders have agreed on a breakthrough deal for the Metropolitan Transportation Authority, which would increase fares and tolls by 10 percent, officials in Albany said. Gov. David A. Paterson, Assemby Speaker Sheldon Silver, and Senator Malcolm A. Smith, the leader of the Senate, were expected to announce the details Tuesday evening.
The base subway and bus fare will rise to $2.25, from $2, under the deal. Major service cuts will be averted, as will a larger planned fare and toll increase of 20 to 30 percent.
The rescue plan will provide billions of dollars to the authority over the next few years to plug gaping budget deficits and finance its capital program.
The deal calls for fares and tolls to rise again, by 7.5 percent, in 2011 and by the same amount in 2013.
Senate Democrats had announced Monday that they they had the votes for their own bailout plan, but Governor Paterson and Mr. Silver had expressed doubts about that plan earlier on Tuesday.
Re: Lawmakers Strike Deal to Rescue M.T.A.
Great. So what are people outside of NYC going to be doing to contribute to the State's economy?
Re: Lawmakers Strike Deal to Rescue M.T.A.
Quote:
Originally Posted by Phil D.
Great. So what are people outside of NYC going to be doing to contribute to the State's economy?
The plan calls for a payroll tax, a surcharge on taxi rides and increases in vehicle-registration and license fees and the auto-rental tax.
