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The MTA is losing billions on NYC’s congesting pricing plan

by Index Investing News
January 8, 2025
in Opinion
Reading Time: 3 mins read
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With congestion pricing now underway, the tone-deaf misfits on the MTA are taking a victory lap on nearly each information community they’ll, touting how visionary their regressive tax is whereas claiming it can result in higher and safer mass transit.

Forgive me for being pessimistic, however for those who purchase what the MTA is promoting, I’ve a bridge or two to promote you!

These are the identical people who had their most up-to-date 5-Yr Capital Plan shot down by two of the most important spenders in New York’s historical past — legislative leaders Carl Heastie and Andrea Stewart-Cousins — resulting from their issues about how on earth the MTA was planning on paying for over half of its ­proposed $65 billion plan.

This could come as no shock, although. MTA Chairman and CEO John “Janno” Lieber and the bigwigs on the company have been spending like drunken sailors for years — a lot in order that the MTA has extra debt than nearly 80% of states within the nation.

That’s completely unsustainable and reflective of their obnoxious perspective towards New Yorkers who pay their ­salaries.

Gross mismanagement

In 2023, state taxpayers needed to bail out the MTA resulting from mismanagement of its funds to the tune of $1 billion — no small feat.

The unhappy half is that it doesn’t should be this manner. Simply have a look at all the cash the MTA has wasted or failed to gather on:

The MTA spent twice as a lot on Second Avenue subway consultants because it did to tunnel the subway itself.

 It then selected to construct the subway stations twice as massive as wanted, including one other $1 billion to the mission.

And don’t overlook that the MTA prices itself round $700 million a yr resulting from not implementing its fares.

It then tried fixing this by spending $700,000 on particular gates designed to cease fare-beaters, that are simply ­bypassed.

Then the MTA spent $1 million on learning the “psychology” of fare-beaters.

All that wasted cash has real-life penalties, too.

A current audit by the state comptroller reveals the MTA did not “preserve flood doorways to its tunnels,” and a evaluate by the MTA inspector basic discovered that 41% of stations wanted speedy or near-future repairs, and 54% of emergency stairwells had “critical defects.”

Solely 23% of subway stations are Individuals with Disabilities Act (ADA)-compliant, in keeping with public knowledge.

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Unsafe system

And this doesn’t even consider the state of security on the subways, the place the MTA and Gov. Hochul have failed spectacularly on all fronts.

Felony assaults are up 55% since 2019, homicide was up greater than 300%, and you might be twice as prone to be assaulted within the subways in 2024 as you have been in 2019.

, all that transit crime that Janno ­Lieber claims is simply “in individuals’s heads.”

Can he be extra out of contact?

Lieber was even referred to as out by Willie Geist on “Morning Joe” Tuesday morning, with the MSNBC host stating: “To Congressman Lawler’s level, and it’s not simply his level, the MTA has an working funds of $20 billion. A company with a funds of $20 billion already ought to have been in a position to deal with the subways. They shouldn’t look the best way they have a look at most of those subway stations; they shouldn’t function the best way they function on most of those trains. You shouldn’t then should slap a $9 tax on a commuter to pour more cash right into a system that doesn’t seem like working for New Yorkers.”

Nicely stated, Willie.

The MTA is spending itself into oblivion, New York state is alongside for the journey, and commuters and taxpayers are struggling the implications.

If we’re ever going to get this runaway practice below management, we have to hearth ­Hochul and Lieber and elect critical ­officers dedicated to spending reform and accountability.

Republican Mike Lawler represents New York’s seventeenth Congressional District.



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