Thursday, December 18, 2014

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State Comptroller's Report Projects Budget Woes for MTA

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The Metropolitan Transportation Authority may be on track to face a number of budget problems.

State Comptroller Thomas DiNapoli has released a report outlining the agency's projected spending over the next 20 years.

The MTA says it will spend more than $105 billion in that time on system upgrades and capital construction projects—like the already over-budget Second Avenue subway.

DiNapoli says the MTA may see a budget gap of $12 billion or more if its finances don't improve.

The agency relies heavily on federal subsidies, but they're set to run out in September and Congress has not acted on approving new transportation spending.

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