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On February 1, 2023, as part of her Executive Budget proposal to the New York State Legislature, Governor Kathy Hochul proposed raising the MTA payroll tax, a move projected to increase revenue by $800 million, and also giving the MTA some of the money from casinos expected at present to be licensed soon for business in Manhattan.
NYS Senators Greg Ball and Lee Zeldin presented their plan to phase-out the MTA payroll tax during a press conference in Yorktown on Wednesday. Plamena Pesheva , Patch Staff Posted Thu, Jun 9 ...
The Martins-Zeldin plan calls for the MTA Payroll Tax to be phased out each year until 2014, when it will be completely eliminated.
Chief among them is raising the state’s payroll mobility tax from 0.34 percent to 0.5 percent, Hochul said. Doing so will yield $1 billion for the MTA, she said.
The New York City Transit Authority (also known as NYCTA, the TA, or simply Transit, and branded as MTA New York City Transit) is a public-benefit corporation in the U.S. state of New York that operates public transportation in New York City.
Employee payroll tax is made up of assigned taxes for the three branches of the social security system and includes both basic and supplementary coverage. Different percentages apply depending on thresholds that are multiples of the social security earnings ceiling (in 2012 = 36,372 euro per year).
Martins Reacts as MTA Payroll Tax Ruled Unconstitutional Sen. Jack Martins joins other officials in celebrating state supreme court ruling.
This tax is expected to fund $120 billion in highway and transit projects over 40 years. The tax is also expected to support over 778,000 jobs in the Los Angeles area and $79.3 billion in economic output.
The state Senate has passed legislation to derail the payroll tax put in place last year to rescue the Metropolitan Transportation Authority from a big budget deficit.
In December 2011, Zeldin supported a $250 million cut to the MTA payroll tax. In March 2012, Zeldin helped to create the PFC Joseph Dwyer PTSD Peer-to-Peer Veterans Support program; funding for the program was included in the 2012–13 New York State Budget.