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MTA to continue biennial toll, fare hikes
2015-07-23 07:54:38| Railroads - Topix.net
NEW YORK – The biennial toll and fare increases that the Metropolitan Transportation Authority has been levying since 2009 are likely to continue, at least in 2017 and 2019.  In a long-range assessment of the MTA's finances, Chief Financial Officer Bob Foran said Wednesday that biennial increases of 4 percent and annual recurring cost savings of as much as $1.8 billion will keep out-year deficits in the $14.5 billion budget to “manageable” levels, $175 million in 2018 and $224 million in 2019.  At the same time, they will ensure that the MTA has some cash to leverage for capital projects or debt service.
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Category:Transportation and Logistics
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