Subway, bus and rail systems could be starved of funds, budget watchdogs warn
New York’s Metropolitan Transportation Authority needs to control its rising debt or it risks a drastic deterioration of service, budget watchdogs say.
The nation’s largest transit agency already has a debt load surpassing $45 billion, mostly to pay for new buses, trains and infrastructure. But it is now considering borrowing billions of dollars just to keep its system—including New York City’s subway—running during the new coronavirus pandemic.
“A true red line has to be drawn on how much debt is too much debt for the MTA,” said Rachael Fauss, a senior research analyst at watchdog group Reinvent Albany.
The Wall Street Journal
By Paul Berger
Updated Aug. 20, 2020 11:49 am ET