Thursday, December 04, 2008

State Commission Speaks - NY Cost of Living to Skyrocket!

YAY!!! Higher taxes for all!!!!!!

The state commission charged with finding new sources of revenue for the Metropolitan Transportation Authority is releasing its report today, which recommends tolls on the East River bridges and a payroll tax for everyone in the region.

Led by former MTA Chairman Richard Ravitch, the commission announced its recommendations with Governor David Paterson and Mayor Michael Bloomberg at his side.

Instead of raising fares by the proposed 23 percent, which the MTA had earlier discussed, Ravitch suggests an 8 percent increase on fares.

But the report also recommends implementing a toll on the East River crossings. In the past, East River tolls never got past the proposal stage. With the economy in recession and the MTA's $1.4 billion budget deficit, lawmakers may be forced to give in to the idea.

Ravitch recommended that the tolls only be instituted if the proceeds go toward increasing bus services, which the committee found to be a major weakness of the transit system.

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