New York's Metropolitan Transportation Authority will need at least $20 billion from 2015 to 2019 to keep its system in good repair, but the mass transit operator has yet to figure out how to pay for these upgrades, a report said on Tuesday.
The
MTA, the largest U.S. mass transit system, runs the city's buses,
subways, commuter railroads and some major bridges and tunnels. Its
capital needs are hitting customers in the wallet. Between 2007 and 2015
fares and tolls are set to have risen 35 percent, according to the
report, issued by State Comptroller Thomas DiNapoli.
The
estimate for the MTA's future maintenance does not include the cost of
expansions, such as the second phase of the Second Avenue subway on
Manhattan's East Side, which would extend the line from 63rd St. to
125th St., the report said.
....$20 billion here $20 billion there, soon we will be talking real money.
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