The Metropolitan Transportation Authority, which manages New York’s transit system, is at a crossroads after decades of underfunding and neglect, BLOOMBERG reports. It either invests as much as $40 billion over the next decade in an overhaul, or it descends into a “death spiral,” says Andy Byford, who oversees the subways and buses.
That’s the pitch Byford, 53, is making to disgruntled riders and taxpayers at town-hall meetings, to the City Council during hours of testimony, and to business executives at breakfasts and other gatherings. “You don’t get the billions you need by just going to Albany with a begging bowl,” Byford, recruited a year ago to run New York City Transit, told executives at a Crain’s Magazine breakfast this month.
The MTA — which controls the subways and buses along with commuter trains and some bridges and tunnels — faces a $991 million deficit looming in 2022 and political arguments over who will pay to close it and how. Read more at BLOOMBERG.
{Matzav.com}
Tax the millionaires in order to pay for this. Let them feel the heat.
And the usual response of the Democrats’ administration will be – don’t raise fares. Raise taxes for those who never use the subway.
Change the owners!!!
MTA is the worst run company. They raise tolls and ride fares every single year and still manage to have a huge deficit every year and a long term “death spiral”.
the death spiral is when their pensions aren’t met. That is his big concern.
Can I somehow get my share of a kickback of only $1 million from this huge $40 billion project?
do a comparison report what the MTA pays for a garbage can or cost per mile of track which should be about the mta spent 2.5 BILLION with a B per mile of track – DOUBLE the same track in other states
900 workers were paid to dig one tunnel
The lunatics run the asylum