New York City's transit system dodged a budget disaster this week after Gov. Kathy Hochul and state lawmakers agreed to give the Metropolitan Transportation Authority the money it needs to help stave off a gargantuan deficit that was triggered, in part, by the pandemic.Ms. Hochul's office said the budget would provide new and recurring funding for the authority through an increase in the payroll tax paid by the city's big businesses, which is expected to generate about $1.1 billion for the agency.
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