The political rivals back plan to raise $22 billion for MTA
Mayor de Blasio has teamed up with Governor Cuomo to support congestion pricing as the best way to raise money for the ailing subway. This announcement comes as the state Senate plans to debate whether to embrace such a proposal. Kumbaya!
- How it would work: Cars would pay a toll when entering the busiest parts of Manhattan, which would generate $15 billion, according to the NYTimes. The plan also proposes a tax on recreational marijuana sales (if legalized), and an internet sales tax, which would allow the MTA to issue bonds to raise $7 billion.
- The plan to pursue… NYC Transit President Andy Byford proposed a sweeping overhaul that could cost $40 billion over 10 years. It addresses the core problem of installing a new signal system to replace the subway’s current equipment that has been used since the 1930’s. He would happily start with $22 billion!