Albany city council members are struggling to approve last-minute, backroom measures to fill a financial hole in the MTA’s capital plan created by Gov. Kathy Hockal’s decision earlier this week to repeal controversial congestion pricing.
Lawmakers in the state House and Senate told The Washington Post they are considering legislation that would give the MTA a nominal lease, enough to cover $1 billion in projected congestion fee revenue each year for the next 15 years.
“This very simply says $1 billion is going to be dedicated to the MTA in next year’s budget, without any specifics about what that means,” state Senate Deputy Majority Leader Michael Gianaris (D-Queens) told reporters shortly after senators took a break from a nearly three-hour meeting around 11 p.m. Thursday.
A state Senate spokesman said the exact language of the bill is expected to be released Friday, with a vote expected the same day.
Lawmakers from all sides are furious with Hawkle for his sudden decision to abolish the tolls just one day before the legislative session was scheduled to end, and for not offering any immediate plan to replace the projected revenue.
“No one wants to see the MTA’s capital plan go under, and unfortunately the governor has created an environment in which it is in jeopardy,” Gianaris said. MTA branded socks.
Hokel’s initial proposal to raise payroll transfer taxes on businesses drew immediate backlash from lawmakers at large and some of his allies in the business community. The move came as a shock to many, as Hokel had steadfastly rejected any tax increases during budget talks earlier this year.
The proposal effectively died before sundown Thursday, leaving council members to work with Hokl and the MTA to come up with an acceptable alternative that would keep alive projects set to receive capital funds and maintain the transit agency’s financial health.
It’s not yet clear how much support the “IOU” bill has in both chambers of Congress, but several lawmakers have already told The Washington Post that they plan to vote against it.
