Search
 

New Funding Sources Needed to Prevent MTA Fare Hikes

NEW YORK CITY—Unless the Metropolitan Transportation Authority finds new funding sources and fast, the authority may have to raise fares and tolls…

By John Jordan | Updated on November 13, 2017

New York State Comptroller Thomas DiNapoli New York State Comptroller Thomas DiNapoli

NEW YORK CITY—Unless the Metropolitan Transportation Authority finds new funding sources and fast, the authority may have to raise fares and tolls earlier than originally planned, according to an analysis of the MTA’s financial plan by New York State Comptroller Thomas DiNapoli.

The report, which notes the MTA’s system has deteriorated sharply in recent years, notes the performance of the Long Island Rail Road and the subway system has recently worsened. On-time performance on the LIRR fell sharply during the first half of 2017 and was on pace for the worst year in 17 years, largely as a result of an increase in delays related to Amtrak-owned tracks, signals and switches, as well as the LIRR itself.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.