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Follow-up on payroll mobility tax revenue growth projections
0:24:20
ยท
34 sec
Council Member Brooks-Powers follows up on the earlier question about revenue growth from the payroll mobility tax. The MTA Co-Chief Financial Officer explains that future growth depends on economic conditions and payroll increases.
- Revenue growth projections are based on anticipated payroll increases
- Growth is dependent on the overall economy
- The payroll mobility tax has been a steady revenue source for the MTA
Selvena N. Brooks-Powers
0:24:20
Thank you for that.
0:24:22
And Jaya, I just wanna come back to the earlier question.
0:24:25
Do you think the revenue sources will grow in the later years?
Jai Patel
0:24:30
I think we have later projection of increase based on payrolls increasing.
0:24:37
That's really dependent on the economy.
0:24:40
So if the payroll increases for businesses, we would get that increase as a percentage.
0:24:47
It really is has been a steady payroll mobility tax receipt that we receive on an annual basis.