NYC Transit Capital Upgrades Face $27 Billion Gap, DiNapoli Says

The nation’s largest mass-transit system faces a potential $27 billion funding gap in its next capital budget that would replace thousands of rail cars, strengthen the system against extreme weather and increase accessibility, according to a report from New York’s comptroller.

The Metropolitan Transportation Authority, which runs New York City’s transit network, is set to release its 2025—2029 capital plan at its monthly board meeting later this month before submitting it to the state legislature by Oct. 1. MTA officials have said that spending program will probably exceed the current $51.5 billion capital budget.