Despite protests from straphangers, members of the state legislator and the City Comptroller, the MTA is determined to raise the price of a subway ride. Whenever we speak out, they come up with another reason to increase the fare. Their most persistent cry is that they'll be $100 million short if they delay the increase till next year. Well the Daily News poured through their numbers and found a different story than what the MTA is saying.
From The Daily News:
The Metropolitan Transportation Authority claims it would lose $100 million if the hikes were pushed back to later next year as urged by leaders of the Stop the Fare Hike Campaign.
But MTA data released yesterday show it could bridge that gap. Real estate tax receipts are $60 million higher than forecast. Though the MTA cautioned that may not last, records also show fare and toll revenue up $49 million higher and health care spending down $25 million.
Assemblyman Richard Brodsky (D-Westchester) said the data "undercuts the argument that the system needs the money immediately."
The News has also learned the MTA is sitting on its $50 million in surplus funds set aside late last year for a stalled program to repaint 200 stations.
Now I have never been particularly good at math, but if memory and a pencil serves me right, those numbers add up to $184 million dollars, then add in their $317 million dollar surplus and that has to take you well over what they are complaining about losing. Oh and by the way, if you need $250,000 to paint a subway station, by all means give me a shout and I'll do it for you and for less than a quarter million dollars.
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