MTA Staring Down a Bleak Financial Forecast

The MTA estimates it could lose $4 billion over the next 12 months, but budget watchdogs estimate, worse case scenario, it could be double that.

Either way, the MTA is already changing its plans. Like shelving its agency-wide reorganization for now. And rethinking the massive Capital Plan to modernize the subways. 

“The MTA’s fare, toll, and tax revenue, historically, is in the worst shape that it’s ever been,” Denise Richardson, Vice President for Research with the Citizens Budget Commission, said Wednesday.

That means any revenue that comes in, from federal stimulus aid or congestion pricing, will likely go toward just keeping the system running.