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

Tuesday’s Headlines: Valley of Political Death Edition

Did you see the new poll showing congestion pricing is really unpopular? Ignore it! Good times are coming. Plus other news in today's headlines.

April 23, 2024

Open Streets Groups Warn of Extra Red Tape to Run Events

Two weeks notice for hopscotch or a yoga class?

April 23, 2024

Monday’s Headlines: A Federal Case over Parking Edition

We're flicking our bicycle bell over a big scoop last week that no one picked up on...yet. Plus other news.

April 22, 2024

Hochul, Legislators Reach Toll Evasion Crackdown Deal

Higher fines for covering a plate and for not paying tolls are part of the budget deal inked on Saturday.

April 22, 2024

Behind the Scenes: How Gov. Hochul Got ‘Sammy’s Law’ Over the Finish Line

Opponents didn't want to put their name on a no vote for the life-saving measure.

April 22, 2024
See all posts