Mayor pushes for tax on the 1 per­cent to fund sub­way fix

The Washington Times Daily - - NATION -

NEW YORK | New York City’s mayor wants to tax the wealth­i­est 1 per­cent of city res­i­dents to fund re­pairs and im­prove­ments to the be­lea­guered sub­way sys­tem.

City of­fi­cials say Demo­cratic Mayor Bill de Bla­sio’s plan would in­crease the top in­come tax rate from about 3.9 per­cent to 4.4 per­cent for mar­ried cou­ples who make more than $1 mil­lion and in­di­vid­u­als mak­ing more than $500,000.

Mr. de Bla­sio plans to an­nounce the pro­posal Monday. Of­fi­cials say the tax would gen­er­ate about $800 mil­lion an­nu­ally. It must be ap­proved by state law­mak­ers.

The pro­posal comes as the mayor and Demo­cratic Gov. An­drew Cuomo con­tinue to squab­ble over who is re­spon­si­ble for pay­ing for fixes to the na­tion’s largest tran­sit sys­tem.

Met­ro­pol­i­tan Trans­porta­tion Author­ity Chair­man Joseph Lhota said Sun­day the agency needs short-term emer­gency fund­ing now.

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