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MTA: Federal funds provide financial stability through first half of 2024


The Metropolitan Transportation Authority (MTA) of New York reports that federal funding will provide the organization with financial stability through the first half of 2024. 

The authority expects to receive $10.5 billion in federal funding from December 2020's Coronavirus Response and Relief Supplemental Appropriations Act and the American Rescue Plan Act, which passed in March 2021, MTA Officials said in a news release.

As a result, the authority will not need to take immediate action on cost-cutting measures such as right-sizing service or freezing wages. The MTA will also forgo a fare increase in 2021. 

Since farebox revenue has improved, toll revenue has remained consistent with the best-case scenario, and Congress passed another federal relief package that is expected to provide $6.5 billion in aid to the authority, MTA officials said.



Contact Progressive Railroading editorial staff.

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