New York’s MTA Facing $15.2 Billion Capital Budget Shortfall
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New York’s Metropolitan Transportation Authority, the largest U.S. transit system, needs to find a way to pay for almost half its $32 billion capital plan over the next five years, according to documents posted on its website.
The MTA said it may close the $15.2 billion shortfall through borrowing or with new revenue sources. The agency’s capital plan through 2019 will pay for upgrades, renovations and expansion on its system of subways, commuter lines and buses.