{"id":511109,"date":"2022-11-17T03:29:00","date_gmt":"2022-11-17T00:29:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/looming-fiscal-cliff-will-destroy-the-mta-watchdog-warns\/"},"modified":"2022-11-17T03:29:00","modified_gmt":"2022-11-17T00:29:00","slug":"looming-fiscal-cliff-will-destroy-the-mta-watchdog-warns","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/looming-fiscal-cliff-will-destroy-the-mta-watchdog-warns\/","title":{"rendered":"#Looming fiscal cliff &#8216;will destroy the MTA,&#8217; watchdog warns"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bf208e3440\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bf208e3440\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/looming-fiscal-cliff-will-destroy-the-mta-watchdog-warns\/#%E2%80%9CLooming_fiscal_cliff_%E2%80%98will_destroy_the_MTA_watchdog_warns%E2%80%9D\" >&#8220;Looming fiscal cliff &#8216;will destroy the MTA,&#8217; watchdog warns&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CLooming_fiscal_cliff_%E2%80%98will_destroy_the_MTA_watchdog_warns%E2%80%9D\"><\/span>&#8220;Looming fiscal cliff &#8216;will destroy the MTA,&#8217; watchdog warns&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>The loss of fare revenue due to lower ridership \u201cwill destroy the MTA\u201d if the state doesn\u2019t step in to provide funding for the cash-str<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed transit system, a government watchdog said Wednesday.<\/p>\n<p>The warning, included in a new report from good government group Reinvent Albany, came after transit leaders also sounded the alarm about the authority\u2019s $18 billion-per-year budget. <\/p>\n<p>\u201cWe believe the decline in fare revenue, combined with an end to federal COVID operating aid and historically high debt levels, will destroy the MTA and transit service unless the state delivers the MTA billions in new dedicated operating funds,\u201d the report read. <\/p>\n<p>Ridership levels dropped over 90% in the initial weeks of the pandemic and are expected to remain as low as just 73% of pre-pandemic levels come the middle of 202 \u2014 costing the MTA $200 million each month, the report said. <\/p>\n<p>A $15 billion cumulative infusion of federal cash over 2020 and 2021 temporarily secured the MTA\u2019s budget \u2014 but only until 2024. The MTA\u2019s budget is further hamstrung by over $40 billion in debt, which is pays off in part with money from rider fares, the report said.<\/p>\n<p>\u201cIt\u2019s no secret the MTA\u2019s debt loads are unsustainable,\u201d Reinvent Albany analyst Rachael Fauss told The Post. \u201cThe federal funding has, in some ways, masked how bad it is.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-772.jpg?w=1024\" alt=\"Commuters wear face masks while riding the subway in New York, June 6, 2021\" class=\"wp-image-24682044\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-772.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-772.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-772.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Subway ridership was decimated by COVID and has not fully recovered.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Transit leaders have been warning about the MTA\u2019s finances since the start of COVID, saying that they will have to make devastating service and jobs cuts without additional funding.<\/p>\n<p>MTA CEO Lieber met with lawmakers about the looming \u201cfiscal cliff\u201d during the Somos conference in Puerto Rico last week, non-profit <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> outlet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.thecity.nyc\/2022\/11\/11\/23454010\/mta-janno-lieber-makes-rare-stop-in-puerto-rico\">The City reported<\/a> on Friday. He has also spoken with City Council members, the report said.<\/p>\n<p>\u201cWe agree the MTA needs new dedicated funding and the fiscal cliff is real and appreciate Reinvent Albany\u2019s passionate advocacy for investment in mass transit,\u201d MTA spokesman Aaron Donovan said in a statement.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-771.jpg?w=1024\" alt=\"MTA CEO Janno Lieber\" class=\"wp-image-24682040\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-771.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-771.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-771.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>MTA CEO Janno Lieber has already started speaking to state and city lawmakers about the MTA\u2019s finances.<\/figcaption><figcaption><span class=\"credit\">Lev Radin\/Sipa USA<\/span><\/figcaption><\/figure>\n<p>Albany and City Hall may be Lieber\u2019s only option to save the MTA with Republicans taking control of the House of Representatives, according to one insider.<\/p>\n<p>\u201cThe next two years in Washington are going to be deadlocked,\u201d the source said. \u201cThere aren\u2019t going to be operating subsidies with the new Republican House.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/16\/looming-fiscal-cliff-will-destroy-the-mta-watchdog-warns\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Looming fiscal cliff &#8216;will destroy the MTA,&#8217; watchdog warns&#8221; The loss of fare revenue due to lower ridership \u201cwill destroy the MTA\u201d if the state doesn\u2019t step in to provide funding for the cash-strapped transit system, a government watchdog said Wednesday. The warning, included in a new report from good government group Reinvent Albany, came&#8230;<\/p>\n","protected":false},"author":1,"featured_media":511110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/mta-fiscal-cliff-index.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135628,70344,70865,71452,73237,7646],"class_list":["post-511109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-16-22","tag-coronavirus-in-ny","tag-government-spending","tag-mta","tag-nyc-transit","tag-transit"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511109","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=511109"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/511110"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=511109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=511109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=511109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}