Takeaways
- The Massachusetts Bay Transportation Authority is borrowing $939 million in municipal bonds to fund transit upgrades, as it faces a projected deficit of nearly $500 million by fiscal 2028.
- The agency needs at least $2.5 billion annually to address a backlog of repairs, but recent proposals, including a deal to direct $535 million in revenue from the millionaire’s tax, have brought some hope for the system’s finances.
- Proceeds from the bond sale will fund modernization of Massachusetts’ subway fleets, installation of new fare payment machines, and expansion of its commuter rail fleet with new bi-level cars.
Bloomberg Markets
By Sri Taylor
June 18, 2025