|
|
Article: Congestion Pricing Plan Dies in New York Assembly; Bloomberg Miffed.
- Article from:
- The Bond Buyer
- Article date:
- April 8, 2008
- Author:
CopyrightCOPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
New York City Mayor Michael Bloomberg's plan to charge people driving in a large area of southern Manhattan died in the New York Legislature yesterday.
The program that was intended to generate revenue that would have backed $4.5 billion of bonds to fund mass transit projects for the state's Metropolitan Transportation Authority. The MTA had identified those bonds as a funding source for a $29.55 billion six-year capital plan.
Assembly Speaker Sheldon Silver, D-Manhattan, told reporters in Albany that the measure did not have a majority of support of his conference and would not be brought to the floor for a vote.
"The conference has decided ...