MTA's budget estimate falls $200M short
The New York State government says it miscalculated the Metropolitan Transportation Authority's budget for next year, leading to a $200 million shortfall.
The money was expected to come from a payroll tax the Legislature attached to a state bailout of the agency in May. However, the state's estimate came up short, raising the possibility of fare hikes and service cuts for Long Island commuters.
Earlier this year, the state cut $143 million from the MTA's budget, adding to its financial troubles.