mta and the search for $$$
TRANSIT
Railing Over MTA’s One-Track Mind on Federal Bailout Hope
BY JOSE
MARTINEZJMARTINEZ@THECITY.NYC SEP 13, 2020, 8:57PM EDT
The MTA has placed a $12 billion, all-or-nothing bet on a bailout from the federal government.
But budget watchdogs and some of the transit agency’s own board members are pushing the MTA to look beyond Washington for salvation from a pandemic-driven economic crisis that’s alternately been described by officials as a “fiscal tsunami” and a “five-alarm fire.”
”Absent a miracle in the next few weeks, the MTA is not going to get the $12 billion of funding it needs,” said Denise Richardson, vice president of research at the nonprofit Citizens Budget Commission. “So, what’s the plan?”
Without another infusion of federal funding, the transit agency has warned of 40% cuts to subway and bus service, layoffs and delays to long-planned system upgrades and expansion efforts. The MTA previously received $3.9 billion in federal aid to help cover operating expenses during the pandemic, but that money ran out in July.
more:
https://www.thecity.nyc/2020/9/13/21...l-bailout-hope
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Riders wait for a 7 train at Queensboro Plaza, Aug. 27, 2020. Ben Fractenberg/THE CITY