The Metropolitan Transportation Authority (MTA) has warned that without a major cash injection, it may be forced to drastically cut services or increase fares on New York City's subway and bus systems, which are already in crisis. The authority faces a projected deficit of nearly $1bn by 2022, driven by declining ridership and falling fare revenue.
Andy Byford, the transit expert brought in from the London Underground to rescue the subway, described the prospect of cuts as 'anathema' at a board meeting. The MTA is proposing a fare hike from March, with options including raising the base fare from $2.75 to $3, or increasing monthly pass costs and eliminating bonuses. Service cuts worth $41m a year are also proposed, mainly by increasing intervals between trains and buses on certain routes.
These measures would still leave the MTA with massive deficits, requiring further cuts or a 15% fare increase. The financial woes come amid Byford's ambitious $40bn plan to overhaul the antiquated signalling system, which dates back to before the Second World War. Delays have more than tripled since 2012, costing New Yorkers over $300m in lost work time annually.
MTA chairman Joe Lhota resigned abruptly this month. Critics argue that poor service is driving riders away, while the MTA points to competition from Uber and Lyft, as well as fare evasion. Governor Andrew Cuomo, who controls the MTA, favours congestion pricing to raise funds, but the plan stalled this year. Advocates hope it may gain traction after Democrats won control of the state senate.
