Tech:NYC’s Statement on the Proposed Payroll Mobility Tax Increase

June 6, 2024

Tech:NYC President & CEO Julie Samuels released this statement on the proposed increase in the payroll mobility tax:

Tech:NYC supports congestion pricing and we were disappointed to hear the Governor’s decision to delay implementation. While we support her goals for economic recovery – one which inevitably relies on a strong tech sector – taxing businesses across the five boroughs is the wrong approach.

New York is a tech hub because the best and brightest in the world want to live here. This city's vitality that attracts those employees relies on our robust public transportation system. But the MTA isn’t perfect – we need to make it a safer and more reliable system for all New Yorkers. We can only accomplish this with a dedicated funding source for capital construction – a sustainable funding source that was supposed to be provided by congestion pricing tolls. 

Instead, New York is taking a step in the wrong direction by delaying congestion pricing and proposing yet another tax increase on the businesses that fuel New York’s and our nation's economy. The plan for congestion pricing represents years of work and hard-fought bargains and compromises across impact constituencies. It addresses the dire needs of the MTA, while recognizing significant environmental benefits (which a PMT wholly fails to account for). It is a policy that would lift up our city and entire region, and we urge the Governor to implement it.