MTA: Payroll tax leaving budget $350M short
Metropolitan Transportation Authority officials say a new payroll tax that was supposed to help fill a budget hole is bringing in less money than expected.
MTA officials were surprised Wednesday by a shortfall of more than $350 million, even with the additional revenue provided by the tax. Mitch Palley, an MTA board member, says the $350 million shortfall is in addition to the already $400 million hole the board knew about.
To help close the gap, the MTA has recently proposed cutting bus and train service, including nine Long Island bus lines. The cuts could also affect LIRR service on Port Washington and Greenport lines.