Uber could fix the NYC MTA budget gap
New York – Per nydailynews.com, Uber could mean a better NY subway ride in the future.
With yellow taxi rides declining, the fast growth of Uber and other car service apps could fuel the Metropolitan Transportation Authority “MTA” with all the money it needs to close a $2.6 billion gap in its massive five-year repair and expansion program, according to a report Wednesday from the Citizens Budget Commission.
“The number of trips by yellow taxi cabs have decreased noticeably in the last few years and that is a trend likely to continue,” Maria Doulis, vice president of the CBC.
“MTA revenues will plateau or decline even more,” she added.
The fiscal watchdog group proposed a few ways to drive revenue to the MTA so that it can fund much-needed repairs and upgrades to its aging and overtaxed system.
The idea that would haul in the most money would provide the MTA all the sales tax money levied on Uber and black car rides that now goes to city and state coffers.
Charging a 7.7% sales tax on rides in these cars could bring in $164 million in 2019 — enough for the MTA to borrow up to $2.6 billion and close the gap in its capital repair plan.
Other ideas include a 50-cent MTA surcharge on Uber trips or adding a fee equal to 4% of a fare.
(Source: NYDailynews.com)
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