NY MTA’s Budget Gap to Grow to $918 Million by 2029, Watchdog Says
- Nonprofit Citizens Budget Commission releases estimate
- CBC report urges MTA to fix gaps before federal aid runs out
Commuters at the Times Square subway station in New York.
Photographer: Yuki Iwamura/BloombergNew York’s Metropolitan Transportation Authority, the largest US public transit system, faces deficits that may grow to $918 million in 2029 after federal funding runs out, according to the Citizens Budget Commission, a watchdog group.
The MTA, for its part, has said federal coronavirus aid and additional payroll tax revenue will help balance its operating budget through 2026. The agency, which has yet to unveil estimates beyond then, is expected to release its 2024 budget proposal Monday.