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Posted: Apr 24 2016, 08:45 AM
Member No.: 1
Joined: 25-March 16
NYCHA Funding Essential
Guest Article by Public Advocate Robert Blutarsky
NYCHA Funding has been facing a 200 million dollar shortfall for the last couple years for each year. The lack of funding and cuts in funding have gone directly to areas people need the most like renovations, maintenance and other areas that have a direct baring on the people of New York.
Democrats have offered legislation to stop the bleeding with an injection of cash of 800 million dollars which will make up for the budget shortfall and for the cuts in NYCHA funding from the previous year.
Republicans are looking at the pricetag with shock however but there is no reason to fear as we wrote in a section to charge a tax of 0.03% on all trades which will effect the New York Stock Brokers but the tax on Individual traders will be negligible and not effect them at all.
This is why I believe this is a good piece of legislation as banks and stock brokers who helped pay a role in our recession will now be forced to play a role in the recovery of our Public Housing. So once again there is no reason to fear the amount being put into NYCHA as it won't be coming out of taxes on people it is a tax on companies and corporations who make billions of dollars and can afford this tax.