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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 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]
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.
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 North America, [4] the NYCTA has a daily ridership ...
Continued budgetary issues forced the MTA to suspend all capital projects "indefinitely" due to a deficit that could grow to $10 billion by 2022. [196] [197] At a meeting in August 2020, the MTA stated that without $12 billion in federal funding to cover operations in 2020 and 2021, the agency would need to take extreme measures such as ...
Andy Byford said fare evasion is a factor in the MTA's budget problems, drawing fire from the Manhattan DA's office. Noah Manskar , Patch Staff Posted Wed, Nov 21, 2018 at 4:39 pm ET |...
The agency is facing a more than $100 million budget deficit this coming fiscal year and a nearly $1 billion shortfall the year after, shortfalls mass transit agencies around the country are ...
Traffic & Transit Fare Hikes Grow Nearer As MTA Budget Passes The MTA's 2019 budget relies on about $270 million in revenue from fare increases planned for next year.
NJ Transit is proposing to increase fares 15% — its first hike in nine years — and would install 3% annual fare increases indefinitely after that, according to a plan presented by NJ Transit ...