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The budget deficit of the MTA is a growing crisis for the organization as well as for New York City and State residents and governments. The MTA held $31 billion in debt in 2010 and it also suffered from a $900 million gap in its operating budget for 2011. [130]
Those losses, unless stanched, will lead to the $16 billion projected deficit, officials said. MTA's in-house cost-cutting will save $5.13 billion in through 2024, officials claim.
The November plan outlines actions from the MTA to shrink the structural deficit from $2.6 billion to $600 million in 2023 and from almost $3 billion in 2025 and 2026 down to $1.2 billion.
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...
The New York Times described MTA funds as a "piggy bank" for the state, with the issuance of MTA bonds benefiting the state at the MTA's expense. By 2017, a sixth of the MTA's budget was allocated to paying off debt, a threefold proportional increase from 1997.
By November 2020, the MTA reported that the continued delays could postpone the start of congestion pricing to 2023. Upon implementation, the revenue could be used to pay off pandemic-related deficits in the MTA's budget. Federal review
Subway Fare Hikes Won't Fix MTA's Budget Woes, Comptroller Says - New York City, NY - The MTA plans to increase subway fares in 2019 and 2021. It'll face a $634 million budget gap in 2022...
The New York City Transit Authority (also known as NYCTA, the TA, [2] or simply Transit, [3] and branded as MTA New York City Transit) is a public-benefit corporation in the U.S. state of New York that operates public transportation in New York City. Part of the Metropolitan Transportation Authority, the busiest and largest transit system in ...
Fare Hikes Grow Nearer As MTA Budget Passes - New York City, NY - The MTA's 2019 budget relies on about $270 million in revenue from fare increases planned for next year.
The WMATA staff preliminary budget for 2011-12 shows an $89 million operating deficit. This deficit can be addressed by fare increases, service reductions, or increased funding from the participating local jurisdictions.