domo415 t1_jboig77 wrote on March 10, 2023 at 2:59 PM

> The new price tag includes interest payments on debt the MTA expects to take out to build the subway extension.

I’m sorry, we give rich folks loan forgiveness via the PPP loan program. We give billionaires tax cuts and almost 0% interest loans.

But forgiving student loan debt or financial infrastructure projects? Nah they gotta pull themselves by the bootstrap.

I wonder if Hudson yards would have been viable if they got the same treatment as the MTA.

b1argg t1_jbov6t1 wrote on March 10, 2023 at 4:23 PM

The city sold bonds against future tax revenue from Hudson Yards development to fund the 7 extension.

AmericanCreamer t1_jbqeiix wrote on March 10, 2023 at 10:24 PM

Odd comment considering the Feds are paying half of this project ($3.5B!). also MTA debt already receives a special tax status so it’s not like the Feds are doing nothing

Peking_Meerschaum t1_jbqz80s wrote on March 11, 2023 at 12:57 AM

The PPP loan program existed because the government forced businesses to close due to the pandemic. Of course the businesses should be compensated and not forced into bankruptcy because we went through an emergency (which later turned out to be less dangerous than feared). Also, the PPP loans were specifically done so that employees could be kept on payroll and not laid off when everything was forced to close. It wasn’t just a hand-out to business owners.

No one forced anyone to go into debt to go to a liberal arts college.