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MTA Identifies $2 Billion in Savings — Now Comes the Hard Part
Jay Walder's surprise resignation announcement last week overshadowed some important news about the MTA's finances: The agency has identified $2 billion in savings in its capital program [PDF], which maintains and expands the transit system, but expects $1 billion less in federal assistance. That brings the total gap in the five-year, $26 billion capital plan to $9 billion that must be accounted for by the end of the year. This enormous deficit will define the political context in which Governor Andrew Cuomo chooses Walder's replacement.
July 26, 2011
Walder Praised After Resigning; Successor Will Be Thrust Into Era of Scarcity
In his relatively brief time at the helm of the MTA, Jay Walder earned widespread plaudits for introducing technological innovations while guiding the agency through increasingly perilous financial straits. His departure comes at a critical moment for the transit agency. With a $9 billion deficit facing the MTA's capital program at the end of this year, whoever replaces Walder will need political skill and technical expertise to spare transit riders another round of enormous fare hikes or service cuts. Even the most competent transit executive will have a hard time pulling it off, and leadership from the governor's office and the state legislature will be absolutely necessary.
July 21, 2011
Jay Walder Resigns as MTA Chief, Effective October 21 [Updated]
After a two-year tenure during which he earned the praise of transit advocates as a skilled and innovative leader, MTA Chair Jay Walder has announced that he will step down effective October 21. Walder, who was appointed by governor David Paterson in July 2009 and took the CEO position that October, will be taking the reins of the MTR Corporation, a Hong Kong-based rail company.
July 21, 2011
Without New MTA Funds, Transit Riders May Face Return of 70s-Era Disrepair
Last week we wrote about how the looming $10 billion deficit in the MTA's capital plan could lead to a $3.00 fare and $137 monthly pass within three years. That's not the only way the transit authority could decide to respond to a lack of funding, however.
April 14, 2011
Fare Hike 2014: Without New MTA Revenue, $137 Monthly Pass Could Happen
With each passing month, the MTA comes closer to the day of reckoning on its unfunded capital plan -- the maintenance work that keeps trains and buses running and the expansion projects that provide more access to the system. While the first two years of the 2010-2014 capital budget were funded, there is a $10 billion deficit in the remaining three. So far, there doesn't seem to be any plan from the city, state, or federal government to find this funding. In fact, between the State Senate's goal of repealing the MTA payroll tax and the House GOP's budget-slashing, there may be more obvious paths to the MTA losing revenue than gaining it.
April 7, 2011
Budget Woes Force MTA To Cut More Than Half of All LI Bus Lines
Nassau County's unwillingness to pay for its own buses is ending in disaster for Long Island Bus riders. The MTA has announced that it plans to cut 25 of the 48 LI Bus lines and axe weekend service on two more.
March 2, 2011
To Stay Connected to Jobs, New Yorkers Need Better Bus Service
Over the last decades, the economic geography of New York City has begun to shift. While Midtown and Lower Manhattan remain job centers without peer, more and more of the city's jobs are located outside of the central business districts. As employment shifts into the other boroughs, however, the transit system hasn't shifted with it. That means longer waits and worse service for many New Yorkers, especially for low- and middle-income workers, according to a new report from the Center for an Urban Future.
February 23, 2011
Real-Time Bus Info Arrives Along the B63
From the Verrazano to Brooklyn Heights, passengers on the B63 can now make their rides more predictable. As of today, the MTA has launched a new bus tracking system that enables riders to find the location of every bus on the route either online or by text message. For riders who can send texts or check the internet from their phones, there's much less guesswork involved in determining, for instance, whether it will be faster to walk.
February 1, 2011
Plenty of Authorities Fail State’s Transparency Test, But Not the MTA
It might be naive to think that New York politicians will one day stop accusing the MTA of mismanagement, shady bookkeeping and a lack of transparency. Few have the integrity or willpower to resist such a highly visible and convenient punching bag. But under its current leadership, the MTA continues to show itself to be one of the more accountable public authorities in the state.
January 13, 2011