Fund the MTA
Aug 12, 2015 | 3947 views | 0 0 comments | 31 31 recommendations | email to a friend | print
Dear Editor,

It makes sense for MTA Chairman Tom Prendergast to ask New York City for additional financial assistance.

The city passed a new $78.5 billion municipal budget that contained no significant additional funding to assist the MTA in bridging the $14.1 billion shortfall in the MTA's proposed five-year, $32 billion capital plan.

The city increased its yearly contribution by only $25 million from $100 million to $125 million. Based on inflation alone, the $100 million annual municipal contribution, which hasn't increased once over the past 30 years, should really be $325 million in today's dollars.

Both the city and state have consistently decreased hard cash contributions to the MTA going back decades.

Based upon the original 1951 Master Lease and Operating agreement, it is the city that actually owns the buses and subways. The MTA is really just managing the system under contract to City Hall without adequate financial support.

Sincerely,

Larry Penner

Great Neck

Comments
(0)
Comments-icon Post a Comment
No Comments Yet