I'm still amazed they got as much up and running as they did. And when they were working on that, I thought, roughly, The first time it was "postponed" because of the Great Depression, and the second time because the city went bankrupt, and trying again is tempting the fates.
No, it's because the MTA has no money. They were counting on funding from the Federal Government - which they aren't getting. Also Congestion Pricing - which the thing in the white house turned down.
Blame the thing in the white house - the Governor of NY did.
I always blame Trump, though I think the MTA's longstanding funding issues predate him. Cuomo can say what he like, but there's no reason for Albany to have any business in the MTA.
The MTA is a State Agency, and is funded with State, City and Federal funds. The Governor of NY State is in fact that head of the MTA. The Governor appoints the members of the board of the MTA - he gets the majority, NYC gets about two or three. The New York State Legislature along with the Governor determine the state funds.
Funding for the MTA comes from various sources: ticket sales, real estate, taxpayer dollars, federal funds...bonds..etc.
The MTA was doing okay, not great up until COVID hit. Since COVID - the MTA had to spend over 10 billion in cleaning trains, stations, etc. Add to this, there were 150 workers who died at the MTA during COVID - each got paid $500,000 per family.
The MTA was counting on Congestion Pricing to pay for the 2nd Avenue Subway - that did not go through, because it is a US Highway owned by the Federal Government, and requires Federal approval - Trump withheld it. As a result it didn't receive the funding it needed.
In addition prior to COVID - subway, bus, train ridership was at an all time high - over 10 million daily, now it is a mere 1 million if that.
The MTA prior to COVID was maybe 1 Billion in debt, but handling it. And a capital program for construction was approved - that included the completion of the 2nd Avenue Subway.
But the COVID crisis put the MTA 10 Billion or more. We've not seen a fiscal crisis for the MTA like this in our lifetimes.
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timeasmymeasure
no subject
Date: 2020-09-13 08:23 pm (UTC)no subject
Date: 2020-09-13 08:23 pm (UTC)no subject
Date: 2020-09-13 09:03 pm (UTC)no subject
Date: 2020-09-13 09:22 pm (UTC)no subject
Date: 2020-09-13 09:04 pm (UTC)no subject
Date: 2020-09-13 09:22 pm (UTC)no subject
Date: 2020-09-13 09:04 pm (UTC)Blame the thing in the white house - the Governor of NY did.
no subject
Date: 2020-09-13 09:23 pm (UTC)no subject
Date: 2020-09-13 11:06 pm (UTC)Funding for the MTA comes from various sources: ticket sales, real estate, taxpayer dollars, federal funds...bonds..etc.
The MTA was doing okay, not great up until COVID hit. Since COVID - the MTA had to spend over 10 billion in cleaning trains, stations, etc. Add to this, there were 150 workers who died at the MTA during COVID - each got paid $500,000 per family.
The MTA was counting on Congestion Pricing to pay for the 2nd Avenue Subway - that
did not go through, because it is a US Highway owned by the Federal Government, and requires Federal approval - Trump withheld it. As a result it didn't receive the funding it needed.
In addition prior to COVID - subway, bus, train ridership was at an all time high - over 10 million daily, now it is a mere 1 million if that.
The MTA prior to COVID was maybe 1 Billion in debt, but handling it. And a capital program for construction was approved - that included the completion of the 2nd Avenue Subway.
But the COVID crisis put the MTA 10 Billion or more. We've not seen a fiscal crisis for the MTA like this in our lifetimes.