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Metropolitan Transportation Authority of New York State


The Metropolitan Transportation Authority, through its subsidiary agencies, is responsible for mass transit planning and operations in the New York City metropolitan area of New York State. The Long Island Railroad also handles freight. MTA Bridges and Tunnels runs the toll bridges and tunnels in the City. The MTA is an independent authority, so can separate its bonding from the State and City. This separation allows the State, City and MTA to incur higher debt financing levels and/or obtain better bond ratings. The steady positive cash flow from their toll facilities provides them a high debt ceiling and a decent credit rating. Board members are appointed by the Governor and the Mayor.

The MTA's facilities are in the midst of a massive rebuilding program. Unfortunately, the State and City are withholding significant funds for this work. Cuts in operating assistance from the City and State present the need to lower service and maintenance costs. While the MTA's federal funding levels are determined in large part by the State, the US government pays the MTA directly, eliminating the ability of the State to play games by delaying payment.

New York City Transit

Card Corporation

Long Island Railroad

Metro North Railroad

Bridges & Tunnels

(Triborough Bridge & Tunnel Authority)

Long Island Bus

(Metropolitan Suburban Bus Authority)

 


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Last updated: 7 September 1999