Call it a tech tax. Uber and Netflix aren’t NYC based. They’re internet existing entities. But still, they’re gonna get an NYC tax.
With the Metropolitan Transit Authority in disarray, legislatures are likely to put a 4% tax on Netflix, Hulu, HBOMax and Uber. The MTA is responsible for the dire mismanagement of the NYC subway. After losing ridership during the pandemic, they are at a dramatic deficit. Instead of cleaning government house, Dem legislatures just figured it would be easier to pass on the whole headache on to NYC taxpayers.
It would be expected to raise 100 million for state coffers, although that won’t make much of a dent. The MTA will need 600 million this year and one billion next year to stay financially afloat. 300 million will come from a raise in subway fares and tolls.
Of course, the Dems could just trim the fat on entitlement, but that’s not really a thought in this legislature.
GOP Assemblymember William Barclay saw the whole thing a little more clearly saying, “new tax on digital streaming services demonstrates how tone-deaf Democrats are to the affordability issues New Yorkers face.”
Expect Dems to find more creative ways to nickel and dime their residents as further agencies face gross mismanagement and incompetence.
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