New York MTA Faces $12 Billion Capital Deficit, DiNapoli Says
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New York’s Metropolitan Transportation Authority may face a deficit of more than $12 billion in the next five years to fund infrastructure projects, state Comptroller Thomas DiNapoli said.
The MTA, which runs the largest U.S. transit system, estimates it will need to spend $26.6 billion through 2019 to maintain and modernize its assets, DiNapoli said today in a report. Billions more will be needed to complete projects such as future phases of the Second Avenue subway, he said.