De Blasio Proposal Would Tax the Wealthy to Fix NYC Subway, Bus Systems

The Fair Fares program would benefit as many as 800,000 New Yorkers living at or below the poverty line who are expected to qualify, de Blasio said.

But the plan has been criticized by MTA's chairman Joe Lhota, the Citizens Budget Commission of New York and the Regional Plan Association, who say taxing the rich will take too long to bring in necessary funds.

Read the full article in AM New York.