Five months after former MTA chairman and RPA board member
Richard Ravitch produced a finance package to bailout the cash-strapped
MTA, the state has approved a plan that raises $2 billion a year in
critically-needed new revenue for the region's transit system. The
plan will avert massive fare hikes and service cuts contained in the
so-called MTA 'doomsday' budget and provide funding for the first two
years of the upcoming MTA rebuilding program. The revenue is raised from
a broad base of taxes, fees and tolls across the 12-county MTA service
region, covering all sectors who benefit from a healthy transit
system including drivers, riders and businesses. The revenue sources are a
modest fare increase, a payroll tax and a slew of driver-related fees
including a taxi fee, vehicle registration fee, license fee and car
rental tax. The vote in the Senate and Assembly caps a
lengthy campaign waged by RPA-led coalition the Empire State
Transportation Alliance to win approval of a robust plan. Read the Press Release
@RegionalPlan