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Passenger Trains > NY MTA faces suffocating level of debt


Date: 10/13/20 11:16
NY MTA faces suffocating level of debt
Author: Lackawanna484

NY Post reports that the NY MTA faces suffocating levels of debt. And may collapse without federal help.

I'm not a fan of state and city income taxes, but it might be appropriate for NY to restore its non-resident tax and dedicate it to transport and first respondeds.

https://nypost.com/2020/10/13/mta-faces-suffocating-debt-without-bailout-report/

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Edited 1 time(s). Last edit at 10/13/20 11:35 by Lackawanna484.



Date: 10/13/20 11:33
Re: NY MTA faces suffocating level of debt
Author: norm1153

In normal times, the NY MTA averages over 5 million passengers a day. 



Date: 10/13/20 16:53
Re: NY MTA faces suffocating level of debt
Author: robj

Make riding free. I read some where that is a good idea.

Bob

Posted from Android



Date: 10/13/20 22:09
Re: NY MTA faces suffocating level of debt
Author: joemvcnj

Until August, bus riding was free due to the front door and forward part of the transit type buses being off limits to passengers.

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Date: 10/14/20 01:19
Re: NY MTA faces suffocating level of debt
Author: coach

Nothing like a huge loss of revenue to show you how much needs to be cut....gotta do more with LESS.



Date: 10/14/20 05:05
Re: NY MTA faces suffocating level of debt
Author: joemvcnj

Except we have:
  • Transfers $10.4 billion in general funds to the Highway Trust Fund (HTF),
  • Transfers $14 billion in general funds to Airport and Airway Trust Fund, 

in the current CR, wiithout fanfare.

So much for that concept of "needing to cut" from the so-called fiscal conservatives. 



Date: 10/14/20 07:05
Re: NY MTA faces suffocating level of debt
Author: goneon66

joemvcnj Wrote:
-------------------------------------------------------
> Except we have:
>
>
  • Transfers $10.4 billion in general funds to the
    > Highway Trust Fund (HTF),
    >
  • Transfers $14 billion in general funds to
    > Airport and Airway Trust Fund, 
    >
    >
    > in the current CR, wiithout fanfare.
    >
    > So much for that concept of "needing to cut" from
    > the so-called fiscal conservatives.

are the fiscal conservatives responsible for the "suffocating" level of debt?

66



Date: 10/14/20 09:36
Re: NY MTA faces suffocating level of debt
Author: pennengineer

goneon66 Wrote:
-------------------------------------------------------
> joemvcnj Wrote:
> --------------------------------------------------
> -----
> > Except we have:
> >
> >
>
>
  • Transfers $10.4 billion in general funds to
    > the
    > > Highway Trust Fund (HTF),
    > >
    >
  • Transfers $14 billion in general funds to
    > > Airport and Airway Trust Fund, 
    > >
    > >
    > > in the current CR, wiithout fanfare.
    > >
    > > So much for that concept of "needing to cut"
    > from
    > > the so-called fiscal conservatives.
    >
    >
    > are the fiscal conservatives responsible for the
    > "suffocating" level of debt?
    >
    > 66

With regard to the MTA situation? No, of course not. But with regard to the irresponsible 2017 tax cut that caused the deficit to balloon? Absolutely.



Date: 10/14/20 14:53
Re: NY MTA faces suffocating level of debt
Author: joemvcnj

My point was, which I did not do very well, is that Congressional bailouts are highly selective. 
If air and highway trust funds can be, why not transit systems ? 
Because otherwise preventing trust fund bankruptcies means user tax hikes, which they promised Grover Norquist they won't do, don't  matter what. 



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