MTA falls behind on revenue due to lagging ridership, economy

The MTA continues to struggle financially due to the impact of the COVID-19 pandemic, with fare revenue under-budget so far this year due to lagging ridership, officials said Monday.

Subway ridership has grown since the early days of the Omicron variant but has not fully rebounded to the pandemic-era highs reached in early December — adding precarity to the MTA’s financial situation, according to agency bean counters.

“Ridership remains well below pre-pandemic levels, and the MTA is still falling well short of its revenue budget targets,” Deputy Chief of Management and Budget Mark Young said during the MTA’s finance committee meeting Monday.

Overall, the authority’s revenue fell

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