The MTA board on Wednesday unanimously approved a $68.4 billion plan to upgrade its aging transit system over the next five years - although questions still remain on how it will be funded, since about half of the plan does not currently have a funding source.
Officials said the funding will provide faster, more reliable service, and help better prepare the system for climate change.
Around 90% of the plan is dedicated to improving infrastructure, including:
- The purchase of 1,500 new subway cars on a handful of lines
- The modernization of signals on 75 miles of track
- More elevators at 60 different subway stations
- The installation of new fare gates throughout the system
The question now becomes how Albany will fund it, with a more than $33 billion gap, plus the $15 billion unfunded from the last plan due to Gov. Kathy Hochul’s pause on congestion pricing.
“The spirit of this program is very conservative. It’s focusing on protecting riders from a decline in service due to infrastructure that’s been, for whatever reason, neglected or left unfixed. And I think Albany folks recognize it, and I am optimistic they will do what they need to do,” MTA chair and CEO Janno Lieber said.