De Blasio administration slams Cuomo plan to wring MTA money from city
The de Blasio administration Tuesday ripped into Gov. Andrew Cuomo's proposal to fund the Metropolitan Transportation Authority by laying hands on city tax revenues. The governor's executive budget for the coming fiscal year would enable the MTA, which he controls, to establish carve-out districts within the city to confiscate their property tax proceeds to fund local transit improvements.
From article, (The de Blasio administration Tuesday ripped into Gov. Andrew Cuomo’s proposal to fund the Metropolitan Transportation Authority by laying hands on city tax revenues.
The governor’s executive budget for the coming fiscal year would enable the MTA, which he controls, to establish carve-out districts within the city to confiscate their property tax proceeds to fund local transit improvements. This tool, called “tax increment financing,” partially underwrote the extension of the 7 line to the Hudson Yards development under Mayor Michael Bloomberg.
But the creation of those tax districts involved the City Council, and the benefits accrued largely to residents of the five boroughs. The de Blasio administration called the idea “outrageous” in a phone call with reporters, noting that some of the projects—including plans to bring Long Island Rail Road trains into Grand Central Terminal—serve mainly bridge-and-tunnel types.)
Me, "All that is needed, is for this tax, that would be collected in the five boroughs, to just be used by the MTA, for projects for the five boroughs. Any project that benefits Long Island should have a separate, but similar tax, collected in Long Island for its capital programs.
I swear its like dealing with kids. You're supposed to be politicians! Would you grow up?"
Me, "All that is needed, is for this tax, that would be collected in the five boroughs, to just be used by the MTA, for projects for the five boroughs. Any project that benefits Long Island should have a separate, but similar tax, collected in Long Island for its capital programs.
I swear its like dealing with kids. You're supposed to be politicians! Would you grow up?"
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