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NEW YORK CITY — The coronavirus pandemic will leave the MTA with a $16.2 billion budget deficit if the transit agency doesn't cut costs and receive billions in federal aid, officials said.
The budget proposes to cut bus service by 40 percent by eliminating or consolidating bus lines, and reduce frequency by up to 33 percent on remaning routes, officials said.
Fare Hikes Could Come To Metro-North To Address 'Fiscal Cliff': MTA Post-COVID impacts including dramatically reduced ridership has led to a deep budget shortfall, officials say.
2009–2010 budget cuts 28th Street station after the W train was discontinued in mid-2010. Note the dark grey tape masked over the W bullet. (This sign has since been replaced due to the restoration of the W in 2016.) The MTA faced a budget deficit of US$1.2 billion in 2009.
The Mass Transportation Authority (MTA) is the public transit operator serving Flint, Michigan and surrounding Genesee County. It also owns and operates the inter-modal Flint station, which also serves Amtrak and Indian Trails.
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It terminated at Ninth Avenue during midday hours until 1995, when it was cut back to Chambers Street. It was extended again from 2001–2004 while the Manhattan Bridge was closed for reconstruction. In 2010, as part of a series of MTA budget cuts, rush-hour M service was discontinued.
The cash-strapped MTA will get $1.1 billion in the budget deal — a bailout that likely will forestall fare hikes. The deal proposes to do this by raising the state's payroll mobility tax for New ...
MTA employees also suffered due to the budget issues. By mid-July 2010, MTA layoffs had reached over 1,000, and many of those affected were low-level employees who made less than $55,000 annually. As of 2015, the MTA was running a $15 billion deficit in its $32 billion 2015–2019 Capital Plan.
A grim plan under consideration by MTA board members considers cutting services drastically and hiking fares to fill a huge hole in the budget for 2021.
In 1991, then-New York Governor Mario Cuomo allocated $22 million to renew planning and design efforts for the Second Avenue line, but two years later, the MTA, facing budget cuts, removed these funds from its capital budget.