Mayor Bill de Blasio has signalled an interest in the “Weed for Rails” plan, drawn up by a former city council speaker. Melissa Mark-Viverito, who is running to be Public Advocate, unveiled the proposal last week and suggested that $1.3 billion raised each year from marijuana taxes should go to transit improvements.
A spokesman for Mr de Blasio told the Standard that it was an “interesting concept” and that it should “get a real look”. However, it is currently hypothetical as marijuana is only legal for medical purposes in New York. But that looks likely to change as officials are reportedly putting together legislation to legalise the drug for adult use.
New York needs at least $40 billion over 10 years to solve the worst transit problem in a generation. Congestion charging, another option on the table, would not generate enough money on its own. Now politicians and experts are looking to states such as Colorado, which generated $247 million in taxes last year from $1.5 billion in sales of cannabis.
New York state governor Andrew Cuomo has set up a panel to look at all funding options, and it could come up with ideas as soon as next month. This is against a backdrop of a lack of willing investors in the subway and buses.
As she launched Weed for Rails, Ms Mark-Viverito said: “The train system is literally falling apart around us... I think this is an area where we could see quick results if the political will is there.”
City council speaker Corey Johnson told the New York Times: “The biggest issue we hear about as elected officials is the state of the subway system. To be able to tie these things together is something that could be highly impactful and potentially transformative.”
A report by Mitchell Moss, a transport expert at New York University, found there was an “immense opportunity” for New York with legalisation. He said that based on a price of $374 per ounce of cannabis, the state could reap $500 million to $750 million a year in taxes
Former London Underground manager Andy Byford was hired by the Metropolitan Transportation Authority in January and came up with the $40 billion plan. A spokesman for Mr Byford, president of New York’s transit authority, said: “We’re focused on improving the service in the short term and completely modernising the transit system with new infrastructure and better accessibility in the medium and long term.”
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A spokesman for Mr de Blasio’s office said: “The Mayor wants pot regulation before legalisation happens, and he’s obviously demanding the MTA get New Yorkers moving again. It’s an interesting concept that should get a real look, but even with this option the MTA will still need additional long-term revenue to get the trains running on time.”