MESSAGE
| DATE | 2020-06-29 |
| FROM | Ruben Safir
|
| SUBJECT | Subject: [Hangout - NYLXS] never ending pockets of the MTA
|
wsj.com
New Yorks MTA to Consider Service, Job Cuts as Coronavirus Further
Imperils Finances
Paul Berger
4-5 minutes
Officials at the nations largest transit agency warned of massive
spending cuts as the authority continues to hemorrhage billions of
dollars because of the coronavirus pandemic.
New Yorks Metropolitan Transportation Authority has already frozen
billions of dollars of spending on improvements this year to its two
commuter railroads and New York Citys subway and buses as it seeks a
second federal bailout.
At a public meeting Wednesday, board members and officials at the
state-controlled agency said wage freezes and job cuts among the 74,000
workers, as well as service reductions, must also be considered.
Lawrence Schwartz, a board member and head of the MTAs finance
committee, requested an accounting of all nonessential spending so that
he and his colleagues could assess a path forward.
Mr. Schwartz said he wasnt advocating job or service cuts. But, he
added: We need to squeeze every ounce of juice out of the orange
regarding nonessential items before we look at the essential
categories.
Mr. Schwartz said one area where the MTA could reduce spending was on
consultants.
Earlier at the meeting, a consultant from WSP USA delivered a
presentation of an authority-commissioned report, which praised the MTA
for its response to the coronavirus pandemic.
Some MTA workers have complained that the authority denied them
permission to wear masks in March, when federal health officials said
masks werent necessary. So far 132 MTA workers have died of
virus-related causes.
Tony Utano, head of the Transport Workers Union Local 100, which
represents subway and bus workers, said in a statement that the report,
budgeted at up to $100,000, was a whitewash.
MTA Chairman Patrick Foye, speaking at a press conference after the
meeting, said he thought the report was accurate.
Mr. Foye said the MTA was early, aggressive and innovative in taking
action to protect workers and riders. He said the report, which also
included examples of transit best practice globally, will be useful as
the authority plots a way forward during the pandemic.
The MTA was in a dire financial situation before the pandemic began.
Its budget problems have been exacerbated by the pandemic, which caused
state and city officials to order businesses to close and people to
stay home to slow the spread of the virus.
Revenues from fares, tolls and taxes have plummeted at the authority,
which has an annual operating budget of just over $17 billion.
Authority officials estimate that over the 2020 and 2021 fiscal year
period, the MTA faces shortfalls of about $14 billion.
Although mass transit ridership has ticked up recently, it is still at
about 80% below pre-pandemic levels. Tax revenues dedicated to the MTA
are expected to be significantly lower than budgeted. Meanwhile,
congestion pricing, another potential source of revenue which was
supposed to be introduced in January, has stalled pending a federal
review.
The MTA received $3.8 billion in the first round of coronavirus bailout
money from the federal government. The authority is requesting a
further $3.9 billion in the next bailout. Officials estimate that even
if they receive the money they requested, they will need an additional
$6.6 billion next year.
Write to Paul Berger at Paul.Berger-at-wsj.com
Copyright 2020 Dow Jones & Company, Inc. All Rights Reserved.
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