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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 transit agency's board met Wednesday to discuss a grim budget plan for next year and potential cost-saving measures such as fare hikes. Without $12 billion in federal aid, MTA would be forced ...
The deficit would then stand at $600 million in 2023 and $1.2 billion in 2024 and 2025. The fare hike would result in $50 million in revenue in 2023, and $100 million in 2024. The increase would ...
By December 2020, the MTA had decided not to implement a budget that would have resulted in 40% service cuts and massive staff layoffs, under the assumption that Congress would give $4.5 billion of aid to the MTA.
Number of vehicles. 2,429 commuter rail cars. 6,418 subway cars. 61 SIR cars. 5,725 buses [1] The Metropolitan Transportation Authority ( MTA) is a public benefit corporation responsible for public transportation in the New York City metropolitan area of the U.S. state of New York.
The MTA reduced the amount of money allocated in the budget, projecting that the agency would not be able to start construction by the end of the 5-year cycle in 2019. [148] [149] In April 2016, the MTA and the State of New York reached a deal to restore funding to Phase 2, with a total of $1.035 billion allocated. [150]
The bus route was first axed in 2010 amid a wave of MTA budget cuts. At the time, the MTA noted that the bus route had one of the lowest riderships in the city.
The transit agency had budgeted $2.75 million for 205,000 Via boardings. They ended up paying $2.9 million for 127,000 boardings. The fixed-route buses managed 2.45 million boardings at a cost of ...
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 coalition of over two dozen neighborhood groups are also circulating a petition that it will present to the MTA to revive the bus route. The B71 was axed in 2010 amid a wave of MTA budget cuts.