Photo Credit: Twitter / X NYC MTA @@MTA
(New York, New York) – The MTA is financially strapped and now searching for ways to make up a huge loss of income after Governor Hochul put congestion pricing on an indefinite pause last week. Congestion pricing was set to go into effect on streets and avenues below 60th Street. The MTA said congestion pricing was supposed to raise money for new subway trains, signal overhauls, a new expansion of the Second Avenue subway into East Harlem and other major projects, while reducing traffic congestion in Manhattan.
The plan faced a lot of backlash across the tri-state area and even some lawsuits. Gov. Hochul paused the start of the plan indefinitely leaving the MTA in the dust, they are now working to figure out how they are going to fill the gap in the budget after they were anticipating an extra $15 Billion annually. Midori Valdivia, an MTA board member who formerly served as chief of staff to a past agency chairman, says “There is no Plan B” as their plans were derailed by the Governor.
Possible ‘outs’ the MTA may have is at one point NY promised the MTA $3.1 billion in direct funding, but have only delivered $511 million so far. The MTA could also start cracking down on ‘fare beaters’ who costed the MTA around $700 million in 2023.
