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Transportation

New York’s MTA Shops for New Funding as Fare Revenue Dwindles

  • Transit agency projects $2.6 billion budget deficit in 2025
  • MTA will need more state help as farebox revenue lags
Commuters exit a subway station in New York on June 30.
Commuters exit a subway station in New York on June 30.Photographer: Jeenah Moon/Bloomberg

Riders aren’t returning to New York City’s subways in enough numbers to blunt a worsening cash crisis, forcing administrators to acknowledge they need to rethink how the agency finances itself.

Officials from the Metropolitan Transportation Authority, a state agency that runs New York City’s subways, buses and commuter-rail lines, plan to sit down with lawmakers and labor groups in the coming months to begin negotiations on new sources of funding and cost cutting. They say it’s too early to discuss specific options. But successful measures in other US cities offer clues as to what New York may consider.