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May 1, 2009
Atlantic Yards YES! Everyone else's tax exemptions, NO!!
While Bruce Ratner is still counting on a Mortgage Recording Tax exemption for Atlantic Yards worth $77 million, and a Sales Tax exemption on all Barclays Center construction materials and fixtures, worth unspecified millions (still no word on the actual cost of the arena), Mayor Bloomberg has proposed a sales tax increase that'll cost city residents north of a half-billion dollars a year — plus the repeal of the sales tax exemption on clothing under $110.
Crain's NY Business, Mayor’s budget treads cautiously on job cuts
Trying to put a positive spin on what will be the gloomiest city budget in seven years, Mayor Michael Bloomberg emphasized Friday that his proposal to shrink the city workforce by 14,000, or 1.3%, in part by laying off almost 4,000, will not affect teachers or uniformed workers like police and firefighters.
But his budget proposal does increase sales taxes and fees by more than $1 billion for the 12 months beginning July 4 and anticipates $400 million in union concessions.
..."We just don't have the money. And the public doesn't want to pay any more taxes," Mr. Bloomberg said during a City Hall press conference. "I'm not happy about raising any tax."
NoLandGrab: "We just don't have the money" because Bruce Ratner doesn't have to pay taxes.
Posted by eric at May 1, 2009 3:39 PM