{"id":29086,"date":"2020-07-17T02:39:00","date_gmt":"2020-07-16T23:39:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-mtas-finances-are-in-free-fall-even-if-uncle-sam-helps-out\/"},"modified":"2020-07-17T02:39:00","modified_gmt":"2020-07-16T23:39:00","slug":"the-mtas-finances-are-in-free-fall-even-if-uncle-sam-helps-out","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-mtas-finances-are-in-free-fall-even-if-uncle-sam-helps-out\/","title":{"rendered":"#The MTA\u2019s finances are in free-fall \u2014 even if Uncle Sam helps out"},"content":{"rendered":"

“#The MTA\u2019s finances are in free-fall \u2014 even if Uncle Sam helps out<\/strong>”<\/p>\n

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July 16, 2020 |<\/span> 7:39pm <\/p>\n

\n Enlarge Image<\/p>\n

\"The<\/img>
\n The Atlantic Avenue-Barclays Center station in Brooklyn.<\/span>
\n Paul Martinka<\/span><\/p><\/div>\n

\n Even if the MTA gets the new federal bailout it\u2019s hoping for, it\u2019s going to have to seriously retrench, warn the fiscal watchdogs of the Citizens Budget Commission.<\/p>\n

That means revamping its $55 billion modernization plan as well as hikes to fares and tolls.<\/p>\n

The agency wants another $4 billion from Congress, but its projected revenue shortfalls are now $8.4 billion to $12.6 billion through the end of 2021. And it also clearly won\u2019t be collecting congestion-pricing fees this year, as once planned. Yet it faces new expenses for amped-up cleaning, as well as retrofitting of buses to protect drivers.<\/p>\n

So the MTA faces some very tough decisions \u2014 as does its workforce.<\/p>\n

It\u2019s already got a hefty debt load, so fresh borrowing must be a last resort, the CBC warns. Fare and toll hikes will be needed, and the modernization plan scaled back.<\/p>\n

The CBC lists five ideas: Get concessions to reduce overtime and fringe-benefit costs while boosting productivity. Put off longer-term capital projects. Boost tolls more than fares, to counteract the likely increase in traffic as virus-spooked commuters avoid mass transit. But still raise fares to cover half of costs, up from about a third now.<\/p>\n

The MTA probably needs to do all of the above to avoid major service disruptions that would mean trouble for the whole city.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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If you want to read more Opinion News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#The MTA\u2019s finances are in free-fall \u2014 even if Uncle Sam helps out” July 16, 2020 | 7:39pm Enlarge Image The Atlantic Avenue-Barclays Center station in Brooklyn. Paul Martinka Even if the MTA gets the new federal bailout it\u2019s hoping for, it\u2019s going to have to seriously retrench, warn the fiscal watchdogs of the Citizens…<\/p>\n","protected":false},"author":1,"featured_media":29087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[40134],"class_list":["post-29086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-the-mtas-finances-are-in-free-fall-even-if-uncle-sam-helps-out"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/29086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=29086"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/29086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/29087"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=29086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=29086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=29086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}