MTA braces for future shortfalls due to ongoing low ridership

The MTA is expected to run out of money to operate the trains and buses earlier than it had anticipated. And its not likely to see ridership return to pre-pandemic levels for several years.

It may be the middle of the summer, but the MTA is already preparing for budget season next fall.

With the ongoing pandemic, and many people still working from home, fewer people are taking mass transit. That means the MTA is spending federal relief money faster than it expected and it could burn through its $15 billion in another three years.

The agency’s Chief Financial Officer is urging the board to start preparing now by thinking of ways to raise $2.5 billion a year to cover its shortfalls. Otherwise, they should prepare for service cuts, job losses or greater fare hikes.

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