ALBANY—Democrats in the State Senate finally have a plan they say will plug the M.T.A.’s current $1.2 billion operating deficit with a payroll tax and four percent fare increase, but does not address the authority’s long-term spending needs.
“It deals with their short-term challenge on operation, and we will deal with their capital challenge between now and the end of session,” Smith said. A placard displayed by his members offered “financing options” including a “personal income tax surcharge in M.T.A. region” and “new ideas from public and legislators.” This is after a forensic audit of the authority.
According to Smith,
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