Even with an inflow of federal infrastructure and coronavirus-relief funds, the budget outlook for the Metropolitan Transit Authority remains grim.
The MTA has forecast a $1.4 billion deficit in 2025, down from an estimated shortfall of $3.5 billion it forecast in July.
The numbers are part of a proposed budget unveiled today at the MTA’s board meeting, which underlined the extent to which the coronavirus pandemic has affected the organization’s finances. With the agency eyeing years of debt, it is focusing on drawing riders back to the subway. For now, that means no fare increases, according to officials.
Chief Financial Officer Bob Foran called federal funds
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