Updated Statement from New York State Budget Director Robert Mujica Jr. on Revenue Projections for the MTA

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Budget Director for the New York State Division of the Budget Robert Mujica Jr.

ALBANY, NY — March 6, 2019 — “Congestion pricing is projected to yield $15 billion, the internet sales tax would yield roughly $5 billion, and the tax on cannabis could generate an additional $2 billion for a total of $22 billion for the next MTA capital plan. But even that leaves a shortfall to get to the low end of MTA’s capital budget, which is projected at $40 billion. If we lose tax revenue generated by cannabis – then we will either need a 50/50 cash split between the City and State, or the pied-a-terre tax, which could raise as much as $9 billion, and we would still have a shortfall.”

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SOURCE: New York State | Press Office

 

eHeziUpdated Statement from New York State Budget Director Robert Mujica Jr. on Revenue Projections for the MTA

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