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Insights and tidbits from the state Capitol

Bad fiscal news from MTA chief

June
11
The MTA faces a new budget gap of between $500 million and $700 million next year because of a slowdown in tax collections, MTA boss Elliott Sander said today at a hearing in Albany.

When asked if that means tolls and train, bus and subway fares might go up, he said not if the state increases its aid to the transit system. “It’s too early to say,’’ he said.
“I am asking the Legislature and the governor for more financial support,’’ he said at the hearing, conducted by Assembly Authorities Committee Chairman Richard Brodsky, D-Greenburgh. That’s considered unlikely since the state, too, is under intense fiscal pressure.

One more bit of bad news from Sander: the $20 billion MTA capital plan is “badly underfunded.’‘

This entry was posted on Wednesday, June 11th, 2008 at 3:58 pm by Jay Gallagher.
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A behind-the-scenes look at state government and politics from the Capitol bureau of Gannett News Service.
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About the authors
Jay GallagherJay Gallagher has covered Albany for Gannett News Service since 1984 and has been Albany Bureau chief since 1989. He`s a native of the Boston area and likes to point out that in this millennium, the score is Red Sox 1 championship, the Yankees 0.
Cara MatthewsCara Matthews has been a statehouse correspondent in the Albany Bureau since August 2005. Prior to that, she covered Putnam County government and politics at The Journal News for nearly five years. Before that, she worked at newspapers in Connecticut and covered the state Legislature for one of them.

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