Cuomo: I'll Include Transit in Infrastructure Fund

Email a Friend

When New York Governor Andrew Cuomo issued a press release describing his tax and stimulus plan this week, he sketched out an infrastructure bank that would draw funds from accelerated payments from the state, couple them with money from the Port Authority and private pension funds, and leverage all that to create a $10 billion investment fund.

That won big praise from people like Marcia Hale of Building America's Future, who called it a "wonderful, wonderful' plan.

But it had folks like Bob Yaro of the Regional Plan Association scratching his head.  The press release (and later the bill) said it would fund roads, bridges, canals, dams, water tunnels, even parks. Neither document mentioned transit.

But on Friday, Cuomo said otherwise.  "We specifically are going to be talking about an infrastructure fund that will be all-inclusive," Cuomo said at a question-and-answer session with reporters after a ceremonial bill signing of the portion of the bill that provides jobs to "inner-city" youth at Medgar Evers college in Brooklyn.

"Of state agencies and state authorities, including the MTA, the Port Authority, DOT and coordinating all of the above."  Cuomo promised more details in the state of the state.

At the same event, Cuomo promised funds lost to the MTA from the payroll tax cut would be matched "dollar for dollar" by other state funds.