The New York Metropolitan Transportation Authority (MTA) issued a letter to the New York State Congressional Delegation immediately requesting $3.9 billion in federal funding as Congress considers its next COVID-19 relief package.
In addition, the MTA released a new third-party economic analysis by McKinsey & Company examining the expected impact of the COVID-19 crisis on the MTA’s operating budget, which projects the full impact of the pandemic to reach up to $8.5 billion in 2020. The analysis examines how ridership will be impacted this year when the system begins to rebound, and projects a massive drop in toll and farebox revenue between $4.7-$5.9 billion, a significant decline in dedicated state and local tax revenues between $1.6-$1.8 billion, and a huge growth in costs associated with customer and employee safety of up to $800 million.
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www.railwayage.com
In addition, the MTA released a new third-party economic analysis by McKinsey & Company examining the expected impact of the COVID-19 crisis on the MTA’s operating budget, which projects the full impact of the pandemic to reach up to $8.5 billion in 2020. The analysis examines how ridership will be impacted this year when the system begins to rebound, and projects a massive drop in toll and farebox revenue between $4.7-$5.9 billion, a significant decline in dedicated state and local tax revenues between $1.6-$1.8 billion, and a huge growth in costs associated with customer and employee safety of up to $800 million.
Full story:
MTA Requests $3.9B in Funding on Heels of Economic Analysis - Railway Age
The New York Metropolitan Transportation Authority (MTA) issued a letter to the New York State Congressional Delegation immediately requesting $3.9 billion in federal funding as Congress considers its next COVID-19 relief package.
www.railwayage.com
