• NY Governor Cuomo Proposes Using $165 Million in Transit Operating funds to Pay Debt Service

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    A deep freeze in Albany as Cuomo prepares to unveil budget. Photo: Azi Paybarah/WNYC

    (Andrea Bernstein, Transportation Nation)

    NY Governor Andrew Cuomo releases his budget today — slashing doesn’t even begin to describe it.  Here’s what his press release says about transportation (remember, this is his office’s spin — the most positive interpretation possible.)  Working on getting reaction:

    “Despite the current fiscal crisis, Governor Cuomo’s Executive Budget continues prior year funding levels for the core transportation capital programs supported by the Dedicated Highway and Bridge Trust Fund, providing $501 million for highway and bridge construction, $363.1 million for the Consolidated Highway Improvement Program (CHIPS) and $39.7 million for the Marchiselli program for local governments, and $16.9 million for Amtrak service subsidies and additional rail capital investments.

    “The Executive Budget also provides a modest increase in cash operating support for the Metropolitan Transportation Authority (MTA) of $43 million, bringing total cash operating support to $3.8 billion, and for other transit systems of $2 million, bringing their combined total to $401 million.

    “Although the budget also provides $100 million to the MTA’s capital program from redirected economic development funds, it also proposes using $165 million of Metropolitan Mass Transportation Operating Assistance Account funds to pay debt services on State bonds previously issued for the MTA capital program that otherwise would be paid from the General Fund and transferring $35 million in MMTOA funds to the General Fund.”

    One Comment

    1. What Cuomo’s budget takes away with one hand, however, it gives with another.

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