De Blasio proposed to introduce an additional tax for wealthy New Yorkers

New York Mayor Bill De Blasio has proposed introducing an additional tax on millionaires in the city, the proceeds from which will be used to develop the MTA - the New York City Transit Administration.

He said this after he told about the constant delays of the city’s subway, which create problems for the residents of the city, the mayor’s press service said.

“We need a millionaire's tax so that New Yorkers who typically travel first class pay their fair share, making it easier for everyone else to get to work and get around the city. That’s fair,” De Blasio said.

He explained that this is a “slight increase” in state income taxes for those who earn half a million dollars a year, they make up 1% of the total number of taxpayers in New York.

The mayor gave an example: after the introduction of this tax, a person who earns a million dollars a year will additionally pay about 2700 dollars of taxes a year, which is about 7 dollars a day.

According to De Blasio, this is an insignificant amount for millionaires, but for most New Yorkers this can make a huge difference.

According to experts, this tax will attract more than 700 million dollars a year. This money will be sent to the MTA (half a billion per year), the remaining 250 million dollars per year will go to the program Fair fares for those in need of financial support from New Yorkers.

“It means being able to get MetroCards half price for the 800 New Yorkers who are at or below the poverty level. Almost one tenth of New Yorkers will reduce their subway costs,” the mayor noted.

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