The Ravitch report, in the works since June, identifies two new revenue sources for MTA: a one-third of 1% "mobility tax" to be levied on employer payrolls in the MTA Commuter District, and cashless tolling of the currently free bridge crossings into Manhattan. Tolls on the East River bridges would be initially set at the same rate as those imposed on the major MTA bridge and tunnel facilities to eliminate "bridge shopping," and the toll rates imposed on the Harlem River bridges would equal the cost of a single-ride subway fare, the report states.

Headed by former MTA chairman Richard Ravitch, the commission says the mobility tax would raise $1.5 billion annually to cover debt service on a new MTA capital program. The bridge tolls would raise approximately $600 million annually for mass transit.

The commission also recommends the creation of a regional bus authority as a subsidiary of the MTA. The RBA would expand and rationalize bus service throughout the region, along with launching bus rapid transit routes through areas currently underserved by mass transit, the report states. Additionally, the commission also suggests that the MTA take steps to ensure that the development of its next capital plan is more transparent and that the authority institute better management of capital construction projects.