Less than a week after celebrating the opening of Grand Central Madison, the Metropolitan Transportation Authority says it is facing a $600 million budget shortfall this year.

The transit agency says it needs help to avoid service cuts or fare increases.

Suffolk County Executive Steve Bellone addressed the MTA Board Monday saying service cuts could hurt economic growth on Long Island.

"What a tragedy it would be if at the very moment when all of these really extraordinary investments that have been made into the system, at that very moment when they come online collectively, that we see declining service," Bellone said.

Gov. Kathy Hochul is expected to address the MTA's issues in her executive budget due Wednesday.

MTA Chairman and CEO Janno Lieber would not comment about what Hochul could be proposing in her budget or about any possible cuts.

Lieber said that the MTA is working with the federal government on congestion pricing.