New York, NY —
New York Assembly Speaker Sheldon Silver says the MTA bailout deal that Senate Democrats tentatively agreed to last night does not have enough money for capital projects.
SILVER: I am mindful of the 70s when the system was allowed to deteriorate and I think what we need to do is maybe it's a scaled down capital plan, but we have to do something toward capital.
Governor Paterson said yesterday that credit markets were poor, and that negotiations on the capital plan should be tabled until later in the year, to see if they improve. His bailout plan would raise money for the MTA through a payroll tax, a $1 cab ride surcharge, and other fees. Two Long Island Senate Democrats dropped their opposition to Paterson's plan, after the governor promised to reimburse school districts for the payroll tax.