The abolition of the commuter tax
for New York State residents only raises a number of issues.
George Pataki to veto a bill which attempts to unconstitutionally exempt New York state residents from paying the New York City commuter tax
, while continuing to tax out-of-state commuters -- including thousands of Pennsylvanians.
If the city's economy stays strong, these gaps can be closed relatively easily, but the lost commuter tax
revenue could become harder to adjust for if economic growth flattens out.
PLUS: Tom Robbins explores Bloomberg's proposed commuter tax
and the mayor's rhetoric of shared sacrifice.
New business costs, a proposed commuter tax
, high unemployment and rising insurance costs have added to the decline in Manhattan's real estate markets, according to the latest quarterly market update from CRESA Partners' New York office.
WageWorks is the number one provider of commuter tax
benefits and the fastest growing provider of consumer-friendly flexible spending accounts for health that save up to 40 percent of out-of-pocket costs for health care, dependent care, transit and parking services.
Kaplan pointed out that, "The alternative commuter tax
package has many disadvantages - including the need for Court approval and the temporary nature of the tax which is effective only while the City is distressed.
Those other ideas could include raising the city's gas tax, asking voters to approve a general obligation bond or a commuter tax
assessed on businesses.
Taxes will be discussed from state withholding to the Metro Commuter Tax
and Act 32.
Cities whose income tax is of the commuter tax
variety (Ohio and Kentucky cities, mostly, along with a few others such as Detroit and Philadelphia that have a reduced rate on commuters) motivate public officials to invest in development projects and encourage private investment in job-creating activities.
The Fast Lane discount that subscribers receive was the silver lining to this commuter tax
, but is now also facing the threat of elimination as an unfunded mandate against the authority.
Later this month Blumenauer plans to introduce the Commuter Relief Act, which would end the nonsensical practice of providing the biggest commuter tax
break for drivers.