The MTA has put forward an ambitious plan to rebuild the infrastructure of the subway system.
The question is how to pay the $68.4 billion cost. The 2025-2029 capital plan calls for 2,000 new railcars, more than 60 newly accessible stations and modern fare gates at 150 stations. It also proposes upgraded power systems, rehabilitating structures and rebuilding old shops.
"These investments are necessary to serve the following generations and the future of the region’s economy, environment, and social and economic equity," MTA Chair Janno Lieber said in a statement.
Congestion pricing was supposed to generate about $1 billion a year to help fund MTA improvements. However, Governor Hochul earlier this year put the brakes on the plan that would have charged drivers $15 to travel south of 60th Street. She has promised to put forward an alternative funding source for the MTA, possibly even a revised version of congestion pricing with a lower cost for drivers. But that has yet to happen.
The governor said she would review the MTA's plan.
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