The tax hike would amount to an additional $2,600 levy on an individual earning $1 million a year, and an additional $8,000 on an individual earning $2 million, according to City Hall.
"Rather than sending the bill to working families and subway and bus riders already feeling the pressure of rising fares and bad service, we are asking the wealthiest in our city to chip in a little extra to help move or transit system into the 21st century", de Blasio said in a statement issued by his office.
Kathryn Wylde, CEO of the pro-business Partnership for New York City and a Cuomo ally, accused Mayor de Blasio of throwing "the city's high earners under the bus".
Subway power outages, long delays and even a derailed subway vehicle led New York Gov. Andrew Cuomo to declare a state of emergency for the system back in June. Joseph Llota, chairman of the Metropolitan Transportation Authority, recently unveiled an emergency plan to stabilize the system at a cost of about $836 million. That new tax rate for would be 4.41 percent and would effect an estimated 32,000 New Yorkers.
"The mayor has not acknowledged that the MTA needs funding today", Lhota said in a statement Monday.
But what about advocates who have long advocated for lower-priced metrocards for the city's low income residents?
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However, the mayor's plan must be approved by the state legislature in Albany and upper chamber, the Senate, is controlled by Republicans who already released a statement saying they would not support de Blasio's tax hike plan. "But the success that many wealthy people have achieved has been because of government policies that favored them", de Blasio, a Democrat, said at a press conference in Brooklyn. "There is no doubt that we need a long-term dedicated funding stream", he said.
While the city owns the subway system, the MTA runs it. Months of subway breakdowns and delays have contributed to the first decrease in ridership in more than 20 years.
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.
"I would argue that the MTA is in a full-blown crisis and that would justify our return to Albany to enact this measure in an emergency session", Ginaris told the New York Times.
This has become known as the Summer of Hell in NY because of widespread repairs, delays and overcrowding on Amtrak, commuter rails and the NY subway, which is 113 years old and handles 6 million riders each weekday.