Gov. Hochul's role is crucial in transforming the MTA's proposed $68.4 billion capital plan from theoretical discussions to actionable financial strategies capable of realization.
The MTA has proposed a $68.4 billion plan focusing on infrastructure, including $47.8 billion for subways and buses, but lacks a concrete funding strategy.
Despite $13 billion in expected federal funds and borrowing $10 billion, there's a significant funding gap, projected at around $45 billion, remaining unresolved.
With ongoing fiscal challenges, including a looming annual deficit and already substantial debt, the MTA's ability to secure further borrowing is increasingly precarious.
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