There are other financial solutions to the Metropolitan Transportation Authority looking for a $4 billion bailout and $1.9 billion Port Authority of New York and New Jersey from Washington due to unanticipated costs incurred by the coronavirus.
Washington has already accumulated $23 trillion in long term debt. With a $4 trillion-plus annual budget, this debt was anticipated to grow by $1 trillion annually for years to come prior to the coronavirus.
The federal government will fund a stimulus package of $850 million. It will be paid for with more borrowed funds increasing our national debt once again. This legislation will deal with the growing virus.
Every village, town, county, city and state, along with many private sector businesses will look toward Washington for additional financial assistance.
Who is going to bail out Uncle Sam to pay for this? All levels of government and the private sector must make difficult financial decisions on how to use existing resources. Americans prioritize their own family budgets.
They make the difficult choices in how existing household financial resources will be spent. If it can wait until later, it should be postponed.
Now the MTA is looking for $4 billion in additional aid from Washington. This is on top of the annual $1.4 billion in assistance provided by the Federal Transit Administration.
The MTA has budgeted $4 billion of local funding within the previous $32 billion 2015-2019 and $51 billion 2020-2024 Five Year Capital Plans to be used toward paying for the $6.9 billion Second Avenue Subway Phase Two.
This project benefits a handful of the 5 million daily transit riders. The MTA must make the difficult financial choices everyone else is doing. Given the current financial crises faced by all levels of government, the MTA should postpone funding Second Avenue Subway Phase 2 until the next 2025 – 2029 Five Year Capital Plan.
There is no indication after five years under the New Starts program that the FTA will approve a Full Funding Grant Agreement. This is necessary to obtain a legal commitment from Washington for between $2 to $3 billion necessary for fully funding this project. Use these local funds currently available under the $32 billion 2015-2019 and $51 billion 2020-2024 Five Year Capital Plans toward dealing with additional $4 billion costs incurred by the Corona Virus.
The MTA also has $1.5 billion available for the Bronx East Metro North Penn Station Access project. This would provide new service along the New Haven Metro North branch for residents Co-Op City, Morris Park, Parkchester and Hunts Point via Hellgate Bridge, Harold Intertockings and East River tunnels to Penn Station.
A better use of these funds currently available under the $32 billion 2015 – 2019 and 2020 – 2024 Five Year Capital Plans would be toward dealing with additional $4 billion costs incurred by the Corona Virus. This project can also be postponed until the next 2025 – 2029 Five Year Capital Plan.
The Port Authority of New York and New Jersey has budgeted $2.05 billion in funding within its own $37 billion 2017 – 2026 ten year Capital Program to build the LaGuardia Air Train. The MTA has budgeted funding within the $51 billion 2020 – 2024 to pay for capital improvements to both the LIRR and NYC Transit Willets Point stations in support of the LaGuardia Air Train.
All of these funds would be better spent dealing with the Corona Virus today. Air travelers can afford postponing this project until the next Port Authority 2027-2036 Ten Year Capital Plan.
The MTA, Port Authority, NYC Departments of Transportation and Economic Development Corporation are currently spending millions of dollars on planning feasibility or environmental reviews for a number of future new transportation expansion projects. These include the $2 billion Triboro X subway, which would run from the Bronx Co-Op City thru Queens on to Bay Ridge, Brooklyn; $2.7 billion Brooklyn Queens Street Car Connector; $2 billion light rail for the Queens Lower Montauk LIRR branch (this line ran from Jamaica to Long Island City with intermediate stops at Richmond Hill, Glendale, Fresh Pond, Haberman and Penny Bridge until service was abandoned in 1998); $8 billion for the restoration of service on the old Rockaway Beach LIRR branch (service was abandoned in 1962); Staten Island $600 million North Shore and $1.5 billion West Shore Bus Rapid Transit projects.
Advancement for all of these projects can afford to be put on hold. Again, these dollars would be better spent on dealing with the $4 billion needed for the coronavirus.
Larry Penner
Great Neck
(Larry Penner is a transportation historian, writer and advocate who previously worked 31 years for the Federal Transit Administration Region 2 New York Office.
