In Other Transportation News
September 17th, 2008, 3:04 pm
Streetsblog provides a great wrap up of Monday’s first hearing of the Ravitch Commission , a 13-member body, headed by former MTA Chair Richard Ravitch, that is charged with recommending strategies to fund MTA capital projects and operating needs over the next ten years, a period when the Authority will be under unprecedented financial pressure as it expands its system and rebuilds its infrastructure. Streetsblog summed up the main themes that surfaced throughout the day’s testimony to the commission:
Read Ravitch Commission Faces Difficult Task of Shoring Up MTA’s Future by Ben Fried on Streetsblog.
- Responsibility for adequately funding the MTA should fall on those who benefit from its services.
- The MTA needs more consistent and reliable revenue streams.
- The city and state have been derelict in their contributions to the MTA, and debt financing has gone too far.
- It is reasonable, even desirable, to institute regular and predictable fare increases, but straphangers are currently shouldering too much of the burden.
- The MTA must become more efficient and financially transparent.