Lieber has said the payroll tax proposal would most reliably address MTA deficits on an ongoing basis. The payroll tax hike, included in Hochul’s February budget proposal, would provide the MTA with $800 million annually by boosting the top payroll tax on certain employers and self-employed individuals from 0.34% to 0.50%, according to the governor’s math. There has also been a call from some state lawmakers to raise money for mass transit through residential parking permits, potentially bringing in up to $400 million a year, although that would require City Council approval.

“Every drop in the bucket helps to fill the bucket but in and of themselves, the brings us a lot closer to the finish line.” “They’re not gimmicky, it all contributes,” Daglian said. And they say a 50-cent surcharge on all Uber and Lyft rides could bring in up to $200 million annually.

Meanwhile, politicians who want to put a 4% tax on the cost of streaming services like Netflix and Disney+ estimate the levy could bring in $100 million a year. Others include a legislative proposal to increase corporate taxes and one that would by 2026 start collecting about $450 million a year from three downstate casinos - along with one-time license fees of $500 million each.

A Slew of Ideasīut it’s far from the only idea on how to shore up the MTA’s sagging finances. “This is the most sane and rational approach to funding the MTA,” Assemblymember Robert Carroll (D-Brooklyn) testified at the agency’s Wednesday board meeting. “It is essential that they move quickly to a budget deal that will fully address the MTA deficits brought on by COVID and to head off service cuts, massive fare hikes and, God forbid, layoffs and other undesirable impacts,” Lieber said Wednesday during the MTA’s monthly board meeting.Įlected officials, budget watchdogs and transit advocates said Hochul’s proposal to increase the payroll tax on larger businesses within the city and the seven suburban counties served by the MTA offers the most realistic chance to stabilize the transit agency’s financial fortunes.

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