Assembly Minority Leader Brian Kolb: $850,000 “Golden Parachute” For New MTA Boss Is An Affront To Taxpayers

July 31, 2009

“News that the incoming head of the Metropolitan Transportation Authority (MTA) could receive an $850,000 ‘golden parachute’ is an affront to hard-working New York taxpayers and small businesses that, earlier this year, picked up the multi-billion dollar tab for the MTA’s bailout. While I am uncertain as to what possessed Governor Paterson to offer such an exorbitant compensation package, I am certain the MTA is a public entity that has been hemorrhaging public monies and is sorely in need of stricter internal fiscal controls and accountability. Coming at a time when 854,200 New Yorkers are unemployed – the most since 1976 – this latest MTA revelation clearly illustrates why a fiscal oversight control board is needed to ensure a distressing pattern of fiscal and administrative irresponsibility at the authority does not continue. I call on the MTA Board to send a message by rejecting the proposed compensation package.”