News

Straphangers Will Foot the Bill for New MTA Capital Plan, MTA Chair Says

(DNAINFO)  Gwynn Hogan | May 25, 2017 — The MTA board approved an additional $2.88 billion in capital spending Wednesday in order to fund new stations along the Second Avenue Subway line, more clean energy buses, and a third track on the Long Island Railroad, though the increased funds would likely mean higher tolls and fares for riders down the line, a board member said.

While the authority’s Chief Financial Officer Robert Foran assured board members the increased capital plan wouldn’t translate into increased tolls and fares in the short term, his promises did little to quell the worries of board member Veronica Vanterpool, who said they wouldn’t be able to stave off debt-related fair hikes after 2019.

Source: Straphangers Will Foot the Bill for New MTA Capital Plan, MTA Chair Says – Financial District – DNAinfo New York