Impact of Payroll Mobility Tax on New York City Workers

FOR IMMEDIATE RELEASE: June 7, 2024
Media Contact: press@fiscalpolicy.org

NYC workers impacted by potential payroll mobility tax make on average $40,000 less than commuters impacted by congestion pricing

NEW YORK | As State elected officials debate how to fund the MTA, the Fiscal Policy Institute released a new analysis of the impact of an increase to the payroll mobility tax for New York City workers, compared to the impact of the now-delayed congestion pricing plan. FPI finds that:

1) The average income of individuals impacted by a possible increase in the payroll mobility tax would be $91,663, while the average income of those impacted by congestion pricing (defined as car commuters into Manhattan) would be $130,140. In other words, the average annual income of car commuters is 42% more than the average annual income of NYC workers affected by a potential payroll mobility tax.

2) An increase in the payroll mobility tax would impact the over 4.3 million workers employed in any of the five boroughs of NYC, while congestion pricing would only affect 284,000 regular car commuters into Manhattan.

The Fiscal Policy Institute is a nonpartisan, nonprofit research and education organization committed to improving public policies and private practices to better the economic and social conditions of all.

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Published On: July 1st, 2024|Categories: Featured on Home, Press Releases, State Budget, Tax & Budget, Tax Policy|

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Impact of Payroll Mobility Tax on New York City Workers

FOR IMMEDIATE RELEASE: June 7, 2024
Media Contact: press@fiscalpolicy.org

NYC workers impacted by potential payroll mobility tax make on average $40,000 less than commuters impacted by congestion pricing

NEW YORK | As State elected officials debate how to fund the MTA, the Fiscal Policy Institute released a new analysis of the impact of an increase to the payroll mobility tax for New York City workers, compared to the impact of the now-delayed congestion pricing plan. FPI finds that:

1) The average income of individuals impacted by a possible increase in the payroll mobility tax would be $91,663, while the average income of those impacted by congestion pricing (defined as car commuters into Manhattan) would be $130,140. In other words, the average annual income of car commuters is 42% more than the average annual income of NYC workers affected by a potential payroll mobility tax.

2) An increase in the payroll mobility tax would impact the over 4.3 million workers employed in any of the five boroughs of NYC, while congestion pricing would only affect 284,000 regular car commuters into Manhattan.

The Fiscal Policy Institute is a nonpartisan, nonprofit research and education organization committed to improving public policies and private practices to better the economic and social conditions of all.

###

Published On: July 1st, 2024|Categories: Featured on Home, Press Releases, State Budget, Tax & Budget, Tax Policy|

Share on Social Media!