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Moody's: Overturned payroll tax is 'credit negative' for MTA
In a report released Monday, Moody's analysts said the court ruling last week deeming the Metropolitan Transportation Authority's payroll tax unconstitutional may negatively affect the organization's credit rating.
If the ruling is upheld in the MTA's appeal, the transit organization could lose up to $1.3 billion of revenue per year. That would cause even more pressure for the organization...