![]() “There’s still going to be a gap,” Paulin said about the funding formula for the upcoming $51-billion capital plan. Paulin noted that the MTA was expected to borrow money for both the 2015-2019 capital plan and the upcoming 2020-2024 capital plan, and that borrowing costs eat into the MTA’s operating budget. Speaking to a crowd at a TransitCenter event last Tuesday night, Assembly Member Amy Paulin laid out a dark scenario for bus and subway riders. Just as subway and bus service is finally improving, and the MTA is preparing to make massive, long-term repairs paid for with congestion pricing, the regional transit agency is facing a cash crunch so severe that service cuts now seem inevitable - and they’d come exactly at the worst possible time, advocates and elected officials are warning. “Cash-strapped” is not just a cute adjective that always precedes the noun “MTA.” It’s a harsh reality.
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