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‘Deficits are starting to return’: MTA faces fiscal headwinds as increased costs outpace fare revenue, officials say
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News – QNS
“Deficits are starting to return in 2027,” MTA Chair and CEO Janno Lieber said during the meeting.
“Long-term cost growth is concentrated in a key number of rapid growth areas, not across the MTA’s operating budget,” Patel said.
As expenses have gone up, Petal said, farebox revenue has fallen short of its anticipated levels by $30 million or 1%.
Farebox revenue is only increasing by 2% each year, Petal said, which falls far short of the rate by which the expenses she highlighted are going up.
The category is on pace to make up just 26% of the agency’s revenue for this year, a steep drop-off from the 40% farebox revenue accounted for pre-pandemic.