De Blasio wants to tax these New Yorkers to improve the MTA

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New York City Mayor Bill de Blasio (D) is proposing a tax on the wealthiest 1 percent of New Yorkers to pay for much-needed repairs to the city's subway system.

The worsening system is hurting Cuomo's approval ratings among New York City voters, and de Blasio is blamed for the problem by the city subway workers' union.

Previous year de Blasio floated a mansion tax to help pay for affordable housing for seniors.

In late July, new MTA chairman Joe Lhota released an emergency plan to fix New York City's subway system.

De Blasio and New York Gov. Andrew Cuomo (D) are facing off over whether the state or the city should pay for the repairs.

Metropolitan Transportation Authority Chairman Joseph Lhota (LOW'-tah) said Sunday the agency needs short-term emergency funding now. It must be approved by state lawmakers.

The hike would hit around 30,000 to 35,000 residents, and generate an estimated $700 million a year that would "in short order" grow to $800 million, he claimed. "We can not ask New Yorkers to wait one year to start repairs", he said.

But what about advocates who have long advocated for lower-priced metrocards for the city's low income residents?

"It is a matter of fairness", de Blasio said. De Blasio's proposal would increase the city income tax rate among couples earning at least $1 million and individuals with incomes of at least $500,000 by.5 percent.

Vanterpool added that she would also like to see the mayor consider congestion pricing, something that the Times reported Cuomo may be starting to look into.

According to the New York Times, Mayor de Blasio will announce the tax proposal on Monday, which comes nearly two weeks after MTA chairman Joe Lhota unveiled a 30-point action plan to fix the ailing subway system.

"We need a millionaire's tax so people who travel in first class pay their share so the rest of us can get around", he said. "If the city wants to up its contribution to help shore up the subways for commuters and their families - which we support - it certainly has the means to do that".

Mr.de Blasio's plan comes with several demands, including that Mr. Cuomo keep his promise for the state to pay $8 billion toward the authority's current capital plan and an additional $1 billion Mr. Cuomo committed for the subway in June.

John Raskin, the executive director of the Riders Alliance, a New York City advocacy group that has called for reduced fares, applauded the mayor's push for new revenue and his support for half-price MetroCards. The highest marginal income tax rate would rise about half a percentage point to 4.41%.

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