NEW YORK — The Metropolitan Transportation Authority is backing off from approving the so-called "doomsday budget" that would have seen major cuts to subway and bus service in the city.

A vote had been scheduled for this week to approve the original budget.

It included a 40% cut to weekday subway service, the removal of entire bus routes, and thousands of layoffs due to revenue lost during the pandemic.

But sources say the MTA is considering a new budget that assumes federal aid is coming.

Democrats in Congress are negotiating for a pandemic relief package that includes roughly $4 billion for the MTA.

But if the federal money doesn't arrive by the end of next month, the MTA says it will have to move forward with the cuts as originally planned.

In a statement, an MTA spokesman said the agency would not comment on any actions the MTA board has not taken.