$51 Billion Capital Investment Plan Sets Records for New York MTA
"The Metropolitan Transportation Authority hopes to commit $51 billion over the next five years to the resurrection of the region’s mass transit system," reports Dan Rubinstein.
The newly announced 2020-2024 MTA Capital Program is a game changer, significantly increasing the dollar figure on the agency's current capital investment plan. The money would be spent on improving accessibility to 66 subway stations, resignaling portions of six subway lines, new buses (including 500 all-electric buses), and the second phase of the Second Avenue Subway.
"While the program relies on funding from the congestion pricing scheme set to go into effect in 2021, as well as excess revenue from the MTA’s bridges and tunnels, it — crucially — also relies on nearly $11 billion in funding from the Trump administration, $3 billion from the de Blasio administration, and $3 billion from the state. The governor is on board. It’s not clear where the de Blasio and Trump administrations stand."