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Rail News Home Financials

7/29/2016



Rail News: Financials

MTA unveils budget and financial plans, proposes fare hikes


The Metropolitan Transportation Authority (MTA) earlier this week released its preliminary 2017 budget and four-year financial plan, which together propose more than $1 billion for a host of initiatives.

In particular, the budget and plan would provide funds for measures to improve customer experience, increase service and service support, increase support for MTA's capital program, enhance safety and security, and invest in necessary maintenance and operations.

As part of the financial plans, MTA is considering implementing two 4 percent fare increases in 2017 and 2019.

The four-year plan includes $195 million from 2017 through 2020 to support capital projects aimed at improving the rider experience. These include adding Wi-Fi, USB charging ports and digital screens to 400 subway cars, MTA officials said in a press release.

Other investments will allow MTA New York City Transit to enhance and expand its Lexington Avenue subway line platform controller.

In addition, MTA will invest an additional $46 million in safety and security initiatives from 2017 to 2020 to augment existing measures. Those investments include upgrading railroad crossings, adding on-board vehicle cameras, providing more "Help Point" intercoms, and improving security operations throughout the agency's system.



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