MESSAGE
| DATE | 2022-07-21 |
| FROM | Ruben Safir
|
| SUBJECT | Subject: [Hangout - NYLXS] With the MTA - it is as predicted,
|
https://nypost.com/2022/07/21/mta-needs-huge-cash-infusion-to-offset-pandemic-era-ridership-drop/
MTA needs huge cash infusion to offset pandemic-era ridership drop
By David Meyer
July 21, 2022 7:39am Updated
MTA subway riders in Brooklyn in 2021
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The MTA needs a huge infusion of cash to close the
massive budget gap created by a nearly 40% decline in
ridership since the COVID-19 pandemic, state
Comptroller Tom DiNapoli said Thursday.
“The MTA’s large budget gaps are coming into greater
focus as ridership remains well below pre-pandemic
levels and federal relief runs out,” DiNapoli said in
a statement accompanying a new nine-page analysis of
the $18 billion-per-year agency’s budget.
“Unless there is an additional influx of city, state
or federal aid, the MTA is facing stark options for
closing its budget gaps that will impact riders,”
DiNapoli said.
Some 5 million-plus people rode the MTA’s subways,
buses and commuter railroads before COVID-19 hit in
early 2020, and their fares accounted for 51.1% of the
authority’s operating costs.
But with many New Yorkers opting not to return to
transit, that figure stood at just 31.9% as of May
2022, DiNapoli’s analysis found.
New York State Comptroller Tom DiNapoli
New York state Comptroller Tom DiNapoli says, “MTA is
facing stark options for closing its budget gaps that
will impact riders.”
STEFAN JEREMIAH
MTA
MTA fares accounted for 51.1% of the authority’s
operating costs.
Getty Images
The figure represents an 8% gap with the MTA’s
mid-2020 consultant-driven ridership predictions,
which anticipated nearly three-fifths of riders would
have returned by now.
see also
MTA
MTA falls behind on revenue due to lagging ridership,
economy
DiNapoli said the authority’s most recent financial
plan proposed using loans to close the gap —
effectively kicking the can down the road.
Without cash from the city, state or feds, DiNapoli
said, the MTA could be forced to institute devastating
budget cuts — but he also suggested that adding
service could increase revenue by luring more riders.
“If sustained shifts to office commuting and greater
demand for off-peak service continue, the MTA may be
able to identify opportunities to provide service that
is better aligned with new demand, while potentially
generating cost efficiencies and creating savings,”
the comptroller’s report said.
MTA Chairman Janno Lieber has argued that the
authority needs to shift to a funding model that is
less dependent on fares to keep the trains running.
“We’re an essential service that needs to be paid for
— and it shouldn’t be on the backs of the riders,” he
said in November.
CEO Janno Lieber
CEO Janno Lieber wants to restructure the MTA funding.
Robert Miller
An MTA spokesman called DiNapoli’s conclusions
“consistent with what the MTA has said since the
pandemic started.”
What do you think? Post a comment.
“Mass transit is an essential service for New Yorkers,
and the MTA has begun working with decision makers to
develop a plan that assures continued strong mass
transit in the post-COVID era,” the spokesman, John
McCarthy, said in a statement
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