Op-ed | Fiscal crisis puts MTA in dire need of new funding
They deserve the same frequent, safe, reliable service they have come to depend on over time, even if more affluent New Yorkers are not using mass transit as frequently. It just doesn’t make sense that low-income riders should suffer with less service because others can work from home or commute differently.
So, we urgently need to fill our funding gap. The MTA will work with all stakeholders – Washington, City Hall, Albany, Comptrollers, advocates, budgeteers, and more – to address the Authority’s financial issues. And we are ready to do our part, preparing to cut operating costs by more than $400 million by 2026. This will be achieved through a series of strategic moves, developed by our agency heads, that will save money without sacrificing any of the progress we’ve made on service reliability and quality.
We cannot wait to act. If the Authority doesn’t get the funding it so desperately needs from our government partners, the MTA Board will be forced to consider fare hikes, service cuts, and layoffs to balance the budget – something we are required to do by State law. Shifting funds from the historic $55 billion Capital Plan is another last resort lever we can pull. But all four options would devastate the City’s recovery and set the MTA back decades. As the agency’s Chair and CEO, I’m determined to keep us moving forward.
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