New York's City Council is expected to vote on a measure today to increase hotel-room taxes from 5% per room to 5.875%, which would represent about a $2.62 increase in tax on a $300-a-night room. The proposal would raise $100 million from March 2009 to the end of the ensuing fiscal year in June 2010, and would be part of a larger effort to address an estimated $4 billion budget shortfall.

Full Story:

Related Summaries