MTA warns of possible layoffs, service cuts due to budget crisis
The MTA has warned that the financial crisis and decrease in ridership could lead to layoffs, service cuts, and even fare hikes.
The agency said on Wednesday it received nearly $4 billion from the CARES Act, but says it needs more to stay afloat.
According to the agency, total losses this year due to the pandemic are about 40% of its 2020 budget.
The agency is now asking the federal government for an additional $3.9 billion.
"Our COVID response efforts while critical also come at a high cost. The damage to our finances is enormous. The deficits we face in 2020 and 2021 are without precedent in the history of the MTA,” says MTA CEO Patrick Foye.
The MTA says it is going to see the effects of the pandemic for years to come.