MTA's Five-Year Capital Plan Calls for $32 Billion in Investments
"The Metropolitan Transportation Authority wants to add four Metro-North Railroad stations in the Bronx and extend the commuter line into Penn Station—even though it doesn't know how it will pay for $15.2 billion of $32 billion worth of construction and repair projects over the next five years," reports Andrew Tangel
The capital plan is expected for release Wednesday September 24, 2014, but Tangel provides insight about the agenda set forth by the plan:
- "Under the plan, Metro-North's New Haven line—it currently serves Grand Central Terminal—would use tracks already in use by Amtrak trains heading to Boston."
- "The bulk of the $32 billion plan—$23.5 billion—would pay for repairs and upgrades to New York City's subway and bus systems and commuter railroads..."
As for the political fireworks expected once the plan is released, Tangel adds: "How—or whether—the MTA can pay for the projects is another question. The authority's release of its next capital plan is expected to set the stage in coming months for potentially contentious debates over whether to raise fares and tolls more than already planned, or increasing state subsidies and dedicated taxes that fund transportation."