"Specifically, the MTA on Nov. 19 released its final 2026 operating budget and four-year financial plan, which includes a new round of operating efficiencies over the next four years that transit reps said significantly reduce out-year deficits announced in the July financial plan by a total of $418 million. MTA leadership said new cost savings of $675 million are the primary driver of the financial achievement,"
"In 2021, the MTA was looking at a $2.5 billion annual deficit, but we have been able to get back on track thanks to the amazing support from Albany, MTA Chair and CEO Janno Lieber said. That support allowed us to stay afloat without cutting service, without any layoffs. And another major factor in this agency's fiscal stability has been the cost savings that we've achieved in recent years."
MTA's 2026 operating budget and four-year financial plan projects $675 million in new operating savings over the next four years, on top of previously announced half-billion annual savings. The plan identifies operating efficiencies that reduce out-year deficits by $418 million and raises cumulative operating savings above $2 billion through 2029. Day-to-day operating costs such as station cleaning and vehicle maintenance are funded by the operating budget, separate from the $68.4 billion 2026–2029 capital plan and congestion-pricing revenue. The agency credits OMNY tap-and-ride and lower maintenance costs from new rolling stock for significant savings. Earlier support from Albany helped avoid service cuts and layoffs during prior deficits.
Read at www.amny.com
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