Name: MTA Chairman and CEO Pat Foye talks budget crisis, looming fare hikes
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MTA Chairman and CEO Pat Foye talks budget crisis, looming fare hikes

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Posted: Dec 7, 2020 / 09:43 AM ESTUpdated: Dec 7, 2020 / 09:43 AM ESTThis is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.NEW YORK CITY — The coronavirus pandemic has brought on massive financial hardship for transportation systems across the country.MTA Chairman and CEO Pat Foye joined the PIX11 Morning News Monday to discuss the transit authority’s dire budget crisis and , as well as potential layoffs and service cuts.“We’re losing approximately $200 million a week. It varies from week to week, but that’s an extraordinary number,” Foye said. “Most of that is a decline in fare and toll revenue as a result of the decline in ridership.”The MTA is asking the federal government for $12 billion in funding to help offset the cost of operating the subways, railroads and buses as the pandemic continues to disrupt ridership.“It would go to our day-to-day bills,” Foye said.The chairman said he’s spoken to President-elect Joe Biden’s transportation transition team about securing funding for the MTA.“They’ve been incredibly accessible to us,” Foye added.While the MTA awaits an answer on funding from the federal government, the agency is also holding public hearings on possible service cuts and fare hikes.“We don’t want to reduce service. We don’t want to have to lay anybody off. But our hand may be forced if there isn’t federal funding,” Foye said. “There is hope … the election of President-elect Joe Biden is a really hopeful step. He is a longtime supporter of public transit and was an Amtrak customer on a daily basis when he was in the United States Senate.”The chairman also mentioned the potential for Congress to pass a COVID-19 relief bill that is being negotiated in Washington and includes funding for mass transit systems.Suggest a CorrectionYour browser does not support the iframe HTML tag. Try viewing this in a modern browser like Chrome, Safari, Firefox or InternetExplorer 9 or later.Data from✕× Close Ad

Posted: Dec 7, 2020 / 09:43 AM ESTUpdated: Dec 7, 2020 / 09:43 AM ESTThis is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.NEW YORK CITY — The coronavirus pandemic has brought on massive financial hardship for transportation systems across the country.MTA Chairman and CEO Pat Foye joined the PIX11 Morning News Monday to discuss the transit authority’s dire budget crisis and , as well as potential layoffs and service cuts.“We’re losing approximately $200 million a week. It varies from week to...

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MTA Chairman and CEO Pat Foye talks budget crisis, looming fare hikes

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