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New York MTA approves 2019 budget [free access]

December 13, 2018

The New York Metropolitan Transportation Authority (MTA) has approved its USD17-billion budget for fiscal year 2019. It includes a proposal to increase fares and tolls to generate additional revenue of USD270 million in 2019. The MTA has also identified measures such as staff reduction to save costs by USD400 million. The MTA Board is expected to vote on the fare hike proposals, including an increase in the price of the 30-day MetroCard, by 5 per cent in January 2019.

 

The MTA’s four-year financial plan forecasts a deficit of USD1 billion by 2022, attributed mainly to declining bus and subway ridership.