MTA Chair & CEO Janno Lieber emphasized MTA's financial improvements at a recent joint hearing in Albany, showcasing the success of the 2023 budget deal that allowed the agency to achieve $500 million in efficiencies. This signifies a 3% reduction in the budget compared to 2019, despite expanded services. The MTA has achieved the lowest operational costs per rider in the country and has made significant advancements in reducing fare evasion rates. Lieber remarked on the importance of trust and efficient governance, noting ongoing initiatives to improve MTA's operations further.
We hit that target, and this year we'll exceed it with $500 million in new efficiencies, without resorting to layoffs, service cuts or fare hikes.
MTA's budget is actually 3% lower now than it was in 2019, even with a ton of extra subway and rail service.
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