MTA, NJ Transit In Need Of More Federal Funding To Stay Afloat

Mack Rosenberg
July 14, 2020 - 5:59 pm
    Categories: 

    Sign up for WCBS 880's daily newsletter for the latest updates on the coronavirus pandemic.

    NEW YORK (WCBS 880) — The MTA and New Jersey Transit won’t be able to stay afloat for long without another round of federal funding, according to the agencies’ leaders. 

    The only funding the agencies have received has been from the CARES Act, in which the MTA was granted $3.9 billion and NJ Transit was given $1.4 billion in federal aid. 

    However, both agencies are set to run out of running soon and MTA Chairman and CEO Pat Foye says it could be gone by next month.

    “Without action by the Senate, we don't have a path forward without cuts that will devastate our system and drag down our regional economic recovery,” he said.

    The MTA is losing $700 million to 800 million every month.

    Congestion pricing would have been a welcome sight to the agency, beginning in January, but it will likely now be delayed a year due to the pandemic. 

    A watchdog group thinks that even with another round of funding, fare increases could happen. 

    NJ Transit CEO Kevin Corbett says they've been able to advance core projects, but warned about what could happen without more money from Washington, D.C.

    “This additional funding is needed to ensure the current momentum continues and that we continue to operate full service for all our customers who depend on public transit,” he said.

    The National Coalition of Public Transportation Agencies, which the MTA and Nj Transit belong to, are now demanding up to $36 billion in emergency federal funding to save rail agencies across the country. 

    The House has already passed a second bill which would give aid to the struggling agencies, but the Senate has yet to set a date to vote on the bill. 

    Stay informed, stay connected — follow WCBS 880 on Facebook and TwitterDownload the RADIO.COM app + favorite WCBS 880 for breaking news, traffic and weather alerts.