Governor Hochul asserts that her budget plan fully funds the MTA's $68 billion capital plan, which is intended to rectify a $35 billion shortfall. However, critics argue that the funding measures—including increased payroll taxes and redirected funds—are insufficient and questionable. The mechanism for generating revenue and the requirement for the MTA to furnish an additional $3 billion pose significant concerns about the viability and transparency of the funding strategy. Despite assurances, the financial soundness and effectiveness of these plans are highly disputed.
You cannot borrow money, i.e. sell bonds, backed simply by money you don't spend. You can reduce your operating costs by $150 million per year, but you can't refer to that as additional revenue that can support $3 billion in infrastructure.
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