News Press

Statement from the Partnership for New York City on Mayor de Blasio’s Proposed High-Earners Tax for MTA

August 06, 2017

“Mayor de Blasio, who has vowed that the city will not share in the cost of MTA repair and upgrading, is suddenly proposing an additional tax on those New Yorkers who already carry a huge tax burden and are widely considered flight risks. The Partnership is not against everyone paying their share: we supported the extension of the so-called Millionaire’s tax when the state was in fiscal trouble; we led business support for the MTA payroll tax, which was supposed to close the budget gap. But when the city has a budget surplus and is spending on arguably frivolous items such as subsidized ferry rides for tourists, there is no rationale for an MTA income tax. The Mayor has previously suggested that city residents are already paying more than their fair share and that there is need for greater transparency on the MTA budget. Now he is prepared to throw the city’s high earners under the bus. If the Mayor’s tax proposal were to be enacted, New York would be about even with California in imposing the highest income taxes in the country. This is simply not a sustainable situation if we expect the city to attract top talent and business investment, particularly with the pending threat of federal tax reform that may eliminate deductions for state and local taxes,” said Kathryn Wylde, President and CEO of the Partnership for New York City.