Congestion pricing pause to blame for MTA's projected $400 million budget deficit in 2027-28, advocates say
NEW YORK -- The MTA is expected to announce its financial forecast for the next several years at Wednesday's board meeting, and the outlook, as you can imagine, is not very rosy.
Officials project the transit agency will face a deficit of more than $400 million in its operational budget from 2027 to 2028.
While the agency says the gap is caused by fare evasion and lower real estate-related taxes, transit advocates blame Gov. Kathy Hochul's suspension of congestion pricing for causing increased maintenance costs and lower-than-predicted ridership.
However, MTA officials seem confident Hochul will come up with the $15 billion she cut as a result of her last-minute pausing of the tolling program.
Congestion pricing supporters sound off
On Tuesday, the governor appeared to take a small step in fulfilling her promise, announcing the allocation of $54 million in state resources to restart work on the 2nd Avenue Subway. But on Wednesday, riders and advocates called it a drop in the bucket.
"She has the nerve to celebrate $54 million for the 2nd Avenue subway, while leaving millions of New Yorkers stranded without billions in transportation investment. To her we say a $54 million Band-Aid is not enough to cover a $15 billion wound," said Paul Medvetsky of Staten Island.
"It's critical that congestion pricing starts now so that jobs are saved, so that bus routes are saved, so that train cars are purchased, so that new signals are upgraded," said Lisa Daglia, of the Permanent Citizens Advisory Committee to the MTA.
Those speakers were among the dozens of riders who rallied in front of MTA headquarters before speaking at Wednesdays meeting and demanding the governor lift the pause on the controversial tolling program.
They said they are worried that without the billions of dollars in revenue, New Yorkers will experience fare hikes or service cuts down the road.
The MTA is also working on its Capital Program for the next four years. That report is expected to be released in the fall.
