Skip to Content
Streetsblog New York City home
Streetsblog New York City home
Log In
Andrew Cuomo

Don’t Believe Team Cuomo’s Spin on the MTA “Lockbox”

This is rich. When Mayor Bill de Blasio told the Daily News he's wary of upping the city's contribution to the MTA capital program because Governor Andrew Cuomo has repeatedly raided dedicated transit funds, MTA Chair Tom Prendergast said don't worry, you can trust the governor:

"This is nothing more than rhetoric from a mayor who refuses to support mass transit. The state has stepped up and committed to fund $8.3 billion toward our capital program in a ‘lockbox’ that will only be used for capital expenses. There are no more excuses," said MTA President Thomas Prendergast.

Don't buy the spin. Prendergast's boss, Andrew Cuomo, has refused to enact "lockbox" legislation that would require the state to disclose when it raids transit funds to cover other needs in the state budget. The governor remains free to divert revenue from the MTA without explaining the impact or even alerting the public.

The only way to seal off transit funding from Albany interference is through bonding. So maybe that's what Prendergast means by "lockbox" -- the Cuomo administration intends to borrow the $8.3 billion for the capital program, by issuing debt backed either by the state or by revenue from MTA fares. Fare-backed borrowing is the scenario that transit advocates most want to avoid, since it will create pressure for future fare hikes.

In either case, de Blasio's objections are legit. The governor hasn't explained where the $8.3 billion he's promised for the MTA will come from. And if City Hall does contribute money to the capital program, there's nothing to stop Cuomo from taking advantage by shuffling funds around and padding the state budget thanks to the city's largesse.

Stay in touch

Sign up for our free newsletter

More from Streetsblog New York City

After Dismissing Streetsblog’s Reporting, FDNY Simplifies Rules for E-Bike Charging Stations … That Streetsblog Exposed

The FDNY changed its guidelines in the middle of a City Council hearing where it faced questions about delays to the program.

October 29, 2025

Unfinished Astoria Bike Lane Languishes As Judge Delays Lawsuit Ruling

The completion of Astoria's 31st Street protected bike lane may get pushed to next year if Judge Cheree Buggs doesn't make up her mind soon.

October 29, 2025

Coke Ain’t It! Streetsblog Editor Snorts in Protest As Fed Agents Seize Bike Lane Again

What do we have to do to get rid of DEA officers' cars from the bike lane? Shoot heroin? Hmmm...

October 29, 2025

Wednesday’s Headlines: Another Dick in a Car Edition

Car drivers always have some bizarre excuse for breaking the law. Plus other news.

October 29, 2025
See all posts