4 ms·
> just think about it as a critical piece of making a city work That's what the NYC MTA is... and they're $42 billion in debt. And they need to "borrow" anoth
by VWWHFSfQ 2y ago
> just think about it as a critical piece of making a city work
That's what the NYC MTA is... and they're $42 billion in debt. And they need to "borrow" another $23 billion from taxpayers to fund themselves for 2025-2030.
[0] https://www.osc.ny.gov/files/reports/osdc/pdf/report-3-2025.pdf https://www.osc.ny.gov/files/reports/osdc/pdf/report-3-2025....
- mikem170 2y agoDid that have anything to do with the cancellation of congestion pricing? I heard that was supposed to generate $16 billion through 2030 for the MTA.
- uncanneyvalley 2y agoIt has to do with the fact that “[a]t $2.5 billion per mile, construction costs for the 1.8-mile Phase 1 of the Second Avenue Subway were 8 to 12 times more expensive than similar subway projects in Italy, Istanbul, Sweden, Paris, Berlin and Spain”[0], repeated for every activity they undertake. [0] https://www.bloomberg.com/news/articles/2023-02-23/in-nyc-subway-a-case-study-in-runaway-transit-construction-costs https://www.bloomberg.com/news/articles/2023-02-23/in-nyc-su...