Transit Funding

The MTA capital budget is risky enough as advertised: It requires putting $7 billion of repairs and system expansions on transit riders' credit card. But the total tab may end up being much bigger, because in addition to billions in borrowing, the funding plan relies on a series of highly optimistic assumptions. Just one week after the budget was released, those assumptions look increasingly shaky.

The current MTA capital budget is very bad news for transit riders, who are being asked to shoulder $7 billion in debt all on their own. Where can the 8 million daily riders who count on the MTA turn for help?

Can you spot the flaw in this excerpt from the New York Times' Saturday backgrounder on MTA chief Jay Walder’s pending departure for Hong Kong?

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.

Rep. John Mica's proposed transportation bill would take a machete to federal transportation spending, cutting overall transportation funding by a third and entirely eliminating dedicated funds for pedestrian and bike infrastructure.

The transit lockbox bill, designed to prevent future raids on dedicated transit funds, has passed the State Assembly, according to the Assembly's website. Having already passed the Senate, the legislation now only needs the signature of Governor Andrew Cuomo to become law.

In a letter to Finance Committee leaders [PDF], 25 senators today urged adequate funding for mass transit in the next transportation authorization bill.

Today’s Senate Banking Committee hearing held some good news for transit riders. Unintuitive though it may be, Banking has jurisdiction over public transportation in the Senate. While in the House, the Transportation and Infrastructure Committee handles every aspect of the reauthorization, in the Senate the bill gets carved up. Environment and Public Works is taking the lead, with the specifics on transit left to Banking. Luckily, there are some transit champions on Banking: Jack Reed (D-RI), Chuck Schumer (D-NY), Robert Menendez (D-NJ) and Jeff Merkley (D-OR) to name a few.

If your roads are congested, your bus lines are getting cut, and money is flowing to brand-new roads to nowhere, don’t blame your mayor. Chances are, he or she is as mad about it as you are. Mayors are speaking out against ineffective transportation funding mechanisms that direct scarce resources to sprawling highways and away from urban transit and safer streets for walking and biking