New $hortfall fear for MTA
The MTA is bracing for an additional $50 million revenue shortfall, officials warned yesterday.
Tax revenues collected by the state to fund the cash-strapped agency are not coming in as predicted. Lagging revenues include payments on the new payroll tax, the 50-cent taxi surcharge and other vehicle fees.
“Whether that trend is going to develop or if there will be a reversal” is unclear, MTA finance chief Robert Foran said.
If the numbers stay under projections, the agency will need to take “more actions” to close the gap, he said.
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