MTA unveils spending proposal with 'historic level' of investment

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The MTA unveiled its 2020-24 capital plan on Monday, touting its proposal to direct a "historic level of investment" that it says will improve the system's speed, accessibility and reliability.

The agency says it's the largest capital plan in MTA history, including $40 billion for NYC Transit and a total of $10.4 billion for spending on the Long Island Rail Road and Metro-North.

In a press release, the MTA says its proposed plan would increase spending on infrastructure by 70% over current levels.

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“This plan expands service, increases reliability, speeds up the system, and delivers the world’s largest ever investment in accessibility, for both NYC Transit and the MTA’s commuter railroads, and at the end of this five-year period, New Yorkers will see a revitalized and modern system for the 21st century and beyond," said MTA Chairman and CEO Patrick Foye in a statement.

The MTA says its proposal will "enable a historic transformation of the Long Island Rail Road" by the planned December 2022 opening of East Side Access and Main Line Expansion.

In a statement, Gov. Andrew Cuomo said he would review the details of the plan to make sure it fulfills the priorities that he laid out last week, which include improvements to signal technology, rail improvements, upgraded bus service and other areas.

The MTA says funding for the plan would come from a variety of sources, including bonds backed by new revenue streams under this year's state budget, plus federal funding and other sources -- including from fares and revenues from existing tolling, it says.

The MTA says it welcomes public input on the plan. Comments can be submitted through the MTA's website.

 

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