Skip to Content
Streetsblog New York City home
Streetsblog New York City home
Log In
congestion pricing

Friday’s Headlines: Good News About MTA Debt Edition

State Comptroller Tom DiNapoli delivered a rosier-than-usual forecast for the MTA’s budget. Photo: NYS Comptroller/Flickr

The MTA's big debt problem may be getting a little smaller — thanks in part to congestion pricing, state Comptroller Tom DiNapoli said Friday.

DiNapoli's annual report on the authority's massive debt once again forecasted the size of that debt to grow — from $44.3 billion today to $56.7 billion in 2028.

Historically, the cost of paying back that debt has fallen on transit riders and their fares. Congestion pricing will shift some of that responsibility to drivers, the report said — heightening the importance of its implementation, which opponents have threatened to sue to delay or even stop.

"Debt service paid from the operating budget is ... expected to stabilize in the short term," the report said. "However, risks over the implementation of congestion pricing could have an impact on the MTA's capital program, either in the form of reducing planned spending or further reliance one existing types of debt which are paid from operating revenues."

One good-government watchdog praised the report.

"The State Comptroller's thorough report on MTA debt again shows that the best way to pay for MTA borrowing is through dedicated revenue streams like congestion pricing," said Rachael Fauss, senior policy advisor for Reinvent Albany.

"Making the MTA use its own its resources — which come largely from riders' fares — to pay for its capital plans is what got the MTA in trouble in the past. It is good news that new state revenues are helping to lessen the burden on riders to pay for debt."

In other news:

    • Jordan Neely's funeral is today in Harlem. (Gothamist)
    • Several outlets (including Streetsblog) covered the City Council's long-awaited permanent outdoor dining reveal. (City & State, NY Times, NY Daily News, CBS New York)
    • Everyone is talking about Citi Bike. (Insider, NY Post, NBC New York)
    • A 16-year-old speeding in a BMW killed his 14-year-old passenger. (NY Daily News)
    • DSNY's latest trash innovation: waste bin requirements for bodegas and restaurants. (NY Times)
    • NYC business leaders think now is the time for the MTA to win concessions from labor. (City & State)
    • Steve Cohen wields parking in his fight against a Willets Point soccer stadium. (The City)
    • Transit isn't just for commuting anymore. (Curbed)
    • Look At This Asshole’s Asshole Truck. (Defector)
    • FAIL CITY: A long-abandoned RV in Williamsburg is finally gone...  after the local councilman stepped in:

Stay in touch

Sign up for our free newsletter

More from Streetsblog New York City

SEE IT: Mets Pitcher Sean Manaea Is Just Another Guy On The Subway

As the beloved Amazin's open a crucial homestead, we took a subway ride to Citi Field with a man on whose arm depends everything. The ride, at least, was no big deal for this veteran commuter.

September 12, 2025

DOT Canal Street Plan Adds Pedestrian Space, Bike Route, But Next Mayor Must Think Bigger

The changes are a good start, but Canal Street deserves a radical transformation.

September 12, 2025

Friday’s Headlines: In Spite of You Edition

A new report shows NYC DOT can accomplish a lot when the mayor cuts his meddling. Plus more news.

September 12, 2025

Jay Z-Backed Times Square Casino Shrinks Sidewalks and Bus Lanes to Serve More Cars

New Yorkers aren't only gambling with their future inside the casino: Developer SL Green wants to remove a bus lane and the 19-foot "super sidewalks" installed on Eighth Avenue just three years ago.

September 11, 2025

The Explainer: Council Seeks to Ban Sale of E-Bikes That Can Go 25MPH

A new city council bill would ban the sale of Class 3 e-bikes, which are only allowed in NYC and can reach speeds of 25 mph.

September 11, 2025

West Side Community Board Fails to Back Safety Over Parking

Oh, they're fine with safety ... as long as parking comes first. No, seriously, that's what they did.

September 11, 2025
See all posts