Report shows MTA asked federal government for $12 billion, agency says service cuts are possible

A new report released Tuesday details how deep in debt the MTA is and what it means for commuters.

News 12 Staff

Oct 13, 2020, 5:54 PM

Updated 1,316 days ago

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A new report released Tuesday details how deep in debt the MTA is and what it means for commuters.
The MTA says there will be "unheard of service cuts and workforce reductions" if it does not get the funding it needs.
State Comptroller Thomas DiNapoli called the situation dire. He says the MTA was already on shaky ground before the pandemic and now it has only worsened. On top of ridership dropping 90% earlier this year and only now slowly beginning to come back, the agency also spent about $1 billion on cleaning the subways, buses and stations.
The MTA has asked for $12 billion from the federal government. There is an option to borrow $10 billion from the state, but the comptroller says this will cause the MTA to spiral further into debt, bringing the $35.4 billion it already owes to more than $50 billion by 2024.
DiNapoli adds that not getting the funding from the federal government will not only hurt the economic rebound of the state, but that of the entire country.


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