New York City Mayor Bill de Blasio and New York Governor Andrew Cuomo have announced a new plan Tuesday to fix the Metropolitan Transportation Authority (MTA) system, which serves 8.5 million customers daily.
If the 10-point proposal plan is approved, it will use funds generated from electronic tolling devices that would be installed in NYC’s Central Business District, which included streets south of 61st Street. According to the New York City Mayor’s Office, the money from the city’s traffic congestion charge will be placed in a ‘lockbox’ and will be used to fund various to repair and improve the MTA.
In addition, using the funds generated from the tolling devices to help repair the MTA, a percentage of funds generated from the “cannabis excise tax” will also help pay for repairs in the city’s transit system.
According to the Mayor’s Office, the plan also includes a measure that would limit MTA fare increases to no more than two percent per year.
“Working New Yorkers struggle every day to get around our city,” Mayor de Blasio said in a statement Tuesday. “We cannot let another year pass without action that makes people’s lives easier. This crisis runs deeper than ever before, and it’s now clear there is no way to address it without congestion pricing and other dedicated revenue streams. The time to act is now.”
MTA acting Chair Fernando Ferrer also believes in the mayor and governor’s plan to repair the transit system and released a statement following the announcement.
“I strongly endorse this proposal from Governor Cuomo and Mayor de Blasio that addresses the fundamental challenges the MTA faces – a need for organization-wide reform, cost-cutting, additional revenues, and increased efficiency, acting MTA Chair Fernando Ferrer said in a statement. “This proposal is a holistic cure for much of what ails the MTA, and I hope to see it enacted swiftly for the benefit of our 8.5 million daily customers,” he added.
