MTA surplus may be used to benefit Bronx commutersPosted: Updated:
A recent MTA budget review shows a projected $928 million surplus, which may help Bronx commuters when it comes to subway fares and transit tolls.
The MTA?s growing surplus is due to higher taxes, higher state fees and income the agency receives from real estate transactions. The MTA executive director proposed the MTA board set aside $481 million of the extra money to be used in a reinvestment fund, $370 million to help balance the 2006 budget and $12 million on additional security measures and cleaning initiatives for transit systems.
There are several proposals on how the transit company should spend the $481 million if it is put in a reinvestment fund. Some officials want the money to be used to finance a platform over the West Side railyard to spur development. Others say the surplus funding should be used to benefit the mass public by deferring fare increases and toll hikes.