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Even With Service Cuts, MTA Still Faces $400M Gap


mark1447

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Massive service cuts and lay-offs the agency has planned won't be enough to rescue the MTA from economic doom. The MTA announced Wednesday that despite the changes it plans to make this summer to cut costs, it still faces a whopping $400 million deficit.

 

The agency told NBC New York it will stick to its commitment not to raise fares, but it's going to have to find some way to generate revenue.

 

Funds from a payroll tax that served as part of the state's bail out won't be sufficient, according to the Daily News. Officials told the paper that the anticipated revenue from the new tax plummeted by an astounding $700 million.

 

Student advocates fear the grim outlook will hamper their campaign to ensure students get to keep their free Metrocards under the new budget. And the state can't afford to help the agency out all that much either. It has its own problems.

 

Gov. David Paterson revealed a swelling state budget deficit of $8.2 million, and he said projected revenue from state income tax is expected to fall.

 

In December, the MTA unanimously voted to shut down dozens of subway and bus lines and in an effort to close its $383 million deficit for 2010. The agency has refused to allocate some of its federal stimulus money for daily expenses, arguing it's to be set aside for much-needed construction projects and improvements.

 

SOURCE: WNBC-4

Feb 3, 2010

 

Daily News Related:

 

http://www.nydailynews.com/ny_local/2010/02/03/2010-02-03_mind_the_400m_gap_even_with_cuts_mta_reveals_it_faces_multimillion_dollar_budget.html

 

WABC Related (With Video):

 

http://abclocal.go.com/wabc/story?section=news/local&id=7256250

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Can't believe they got a huge budget gap :( . Soon the T/A may raise the fare again.. :)

 

Maybe the T/A can merge with another Transit Operation? But i dont think thats possible since (MTA) is for New York.

 

I guess the removal of Free Student Metro Cards should take affect, even tho idk how much money can the (MTA) generate.

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The student MCs should really be more a DOE thing or the city should be funding it, not the MTA.

 

Agreed. Everyone wants the (MTA) to things, how about the city/state stepping in!

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I hate to say it folks but all this "NOT RAISING THE FARES" is a bunch of BS.....Prepare yourselves for 3 or even 4$ fares in the near future....

 

Unlimited 30 day Metrocards will be well over 100$ a month.

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I hate to say it folks but all this "NOT RAISING THE FARES" is a bunch of BS.....Prepare yourselves for 3 or even 4$ fares in the near future....

 

Unlimited 30 day Metrocards will be well over 100$ a month.

 

I wonder if Seniors/Disabled people will get a raise on this?

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I wonder if Seniors/Disabled people will get a raise on this?

 

They will still pay half of whatever the current fare is.

 

I hate to say it folks but all this "NOT RAISING THE FARES" is a bunch of BS.....Prepare yourselves for 3 or even 4$ fares in the near future....

 

Unlimited 30 day Metrocards will be well over 100$ a month.

Rather than to raise fares, they could just cut out the bonuses and at least then no one will have to calculate the balance to get down to $0.

 

And to encourage people to buy higher denominations, give them $1 for every $18 they buy or something like that.

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The student MCs should really be more a DOE thing or the city should be funding it, not the MTA.

 

Please BloomBUX - Got it re-elected just in time before all of this hit the fan so he wont contribute anything from the City...count on that.

 

Patterson is now in the middle of his campaign....He has to do something or his whole campaign is for nothing, because the media will vilify him and there will overwhelming outrage from the public....The MTA has already made him the scapegoat and the public is steering right @ him to blame if there cuts in transit. It's not looking good for the Gov. even though he's not totally to blame.

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They will still pay half of whatever the current fare is.

 

Rather than to raise fares, they could just cut out the bonuses and at least then no one will have to calculate the balance to get down to $0.

 

And to encourage people to buy higher denominations, give them $1 for every $15 they buy.

 

Waldor already slashed the pay of all non union salaries including himself...I think that includes bonuses first.

 

The MTA has toooo many unions and agencies. I sorry it's the truth! along with the Right hand doesnt know what the Left hand is doing.

 

There needs to be consolidation in the MTA its going to come to that, or this will ALWAYS be a problem

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Waldor already slashed the pay of all non union salaries including himself...I think that includes bonuses first.

 

The MTA has toooo many unions and agencies. I sorry it's the truth! along with the Right hand doesnt know what the Left hand is doing.

 

There needs to be consolidation in the MTA its going to come to that, or this will ALWAYS be a problem

 

No arguements from me, excess management needs to be curbed like dog turds.

 

Now as for the Gov, he's at least trying to cut spending, but perhaps in the wrong areas. I don't see Cuomo doing anything. He'll let the state go bankrupt to keep everyone happy.

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This is not shocking or surprising, its called voodoo economics. The politicians cooking the budget and thinking short term and trying to hang on for their political lives. They knew this shortfall would happen and as the old saying go they put a band aid on a bullet wound just to temporarily appease the public. I might sound like a broken record , but the MTA has to find a steady stream of revenue that cant be compromised by politics or politicians. The idea that i think could be the source of this income is a lottery or a an addional added on to the sales tax.

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Taxes are friggin high already, what is needed is to cut spending. that's where Patterson has it right. Albany has been spending money like toilet paper for years especially the bottomless pit that is the medicare and schools sector.

 

Social services = money pit.

 

Schools = money pit.

 

Give your money to me, i'll burn it for you.

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Private education :tup:

 

If i'm ever dumb enough to not wrap before I tap, i'll be sending the critters to private school. I'm not going to be responsible for sending them through the public school cesspool.

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If i'm ever dumb enough to not wrap before I tap, i'll be sending the critters to private school. I'm not going to be responsible for sending them through the public school cesspool.

 

Same here, I would rather my progeny go to private school even if I had to take on a second job. Public schools are a hell hole.

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I went to private school all my life. I say those that sends their kids to private schools should choose where their tax dollars should go. I'm sure they'd send it to places other than public schools.

 

Social services = money pit.

 

Schools = money pit.

 

Give your money to me, i'll burn it for you.

 

You speaketh the truth!

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I say those that sends their kids to private schools should choose where their tax dollars should go. I'm sure they'd send it to places other than public schools.

 

 

 

 

 

I can't agree more.

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