Governor Kathy Hochul's recent decision to raise the Payroll Mobility Tax (PMT) on employers in downstate New York illustrates her strategy of implementing hidden tax increases. The PMT, first introduced to address a funding crisis for the MTA, has grown significantly and now funds billions in capital projects. The latest budget increases the PMT rate for city employers from 0.6% to 0.895%, significantly raising costs while remaining largely unnoticed by employees. This budget strategy demonstrates how Hochul manages to avoid political repercussions from tax increases that are not prominently visible to the public.
Hochul's focus on hidden taxes, such as the Payroll Mobility Tax, allows her to avoid the backlash commonly associated with visible tax increases which could endanger her political standing.
The PMT, while less visible to workers, brings in billions to finance transit projects, demonstrating how obscurity can mask the true financial burden on businesses.
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