Thomas DiNapoli

September 12, 2024

MTA could need $100B+ to fund transit projects over next five years

The Metropolitan Transportation Authority (MTA) needs over $100 billion for transit projects and maintenance over the next five years, significantly more than the funds currently available, according to a new report. State Comptroller Thomas DiNapoli on Thursday released a report estimating the MTA's 2025-2029 capital plan could cost up to $92.2 billion. This figure doesn't account for the $15 billion gap in the current plan due to Gov. Kathy Hochul's pause on congestion pricing, which would bring the total funds needed up to $107 billion.
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November 9, 2017

Costly MTA improvements may mean unplanned fare hikes

By Michelle Cohen

According to the annual financial outlook report by State Comptroller Thomas DiNapoli, recent and much-needed improvements by the MTA may mean fare increases could come sooner than the ones that are already scheduled, Newsday reports. DiNapoli’s report pointed out that even if it gets the hoped-for additional government funding, recent improvement efforts that address subway performance could add up to $300 million annually, requiring an unscheduled fare and toll increase of about 4 percent. Currently, a 4 percent hike is planned for 2019, and another for 2021.
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Transit

Thomas DiNapoli

MTA could need $100B+ to fund transit projects over next five years

Costly MTA improvements may mean unplanned fare hikes

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